<SEC-DOCUMENT>0001292814-15-002148.txt : 20150831
<SEC-HEADER>0001292814-15-002148.hdr.sgml : 20150831
<ACCEPTANCE-DATETIME>20150831101141
ACCESSION NUMBER:		0001292814-15-002148
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20150630
FILED AS OF DATE:		20150831
DATE AS OF CHANGE:		20150831

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:		151083743

	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>sbsitr2q15_6k.htm
<DESCRIPTION>ITR 2Q15
<TEXT>

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   <TITLE>sbsitr2q15_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 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>

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<DIV><FONT color=#000000 size=2 face="Times New Roman"><B>For&nbsp;August 31, 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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<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></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>

<P></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="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

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<H1 style="TEXT-INDENT: 0in; MARGIN: 9.9pt 0in 0pt 8.3pt"><B><FONT style="FONT-SIZE: 14pt" face="times new roman">Table of Contents</FONT></B></H1>

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   <P style="MARGIN-TOP: 2pt; MARGIN-BOTTOM: 2pt"><FONT style="FONT-SIZE: 10pt" face=Arial,Helvetica,sans-serif>C</FONT><FONT style="FONT-SIZE: 10pt"><FONT face=Arial,Helvetica,sans-serif>as</FONT><FONT face=Arial,Helvetica,sans-serif>h Pr</FONT><FONT face=Arial,Helvetica,sans-serif>o</FONT><FONT face=Arial,Helvetica,sans-serif>ce</FONT><FONT face=Arial,Helvetica,sans-serif>e</FONT><FONT face=Arial,Helvetica,sans-serif>ds</FONT></FONT></P></TD>

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   <P style="MARGIN-TOP: 2pt; MARGIN-BOTTOM: 2pt"><B><FONT style="FONT-SIZE: 10pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>St</FONT></B><FONT style="FONT-SIZE: 10pt"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif>a</FONT></B><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif>t</FONT></B><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif>eme</FONT></B><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif>nt o</FONT></B><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif>f C</FONT></B><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif>han</FONT></B><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif>ge</FONT></B><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif>s </FONT></B></FONT><B><FONT style="FONT-SIZE: 10pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>in Equity</FONT></B></P></TD>

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   <P style="MARGIN-TOP: 2pt; MARGIN-BOTTOM: 2pt; MARGIN-LEFT: 20pt"><FONT style="FONT-SIZE: 10pt" face=Arial,Helvetica,sans-serif>1</FONT><FONT style="FONT-SIZE: 10pt"><FONT face=Arial,Helvetica,sans-serif>/</FONT><FONT face=Arial,Helvetica,sans-serif>1</FONT><FONT face=Arial,Helvetica,sans-serif>/</FONT><FONT face=Arial,Helvetica,sans-serif>20</FONT><FONT face=Arial,Helvetica,sans-serif>15 </FONT><FONT face=Arial,Helvetica,sans-serif>to 6</FONT><FONT face=Arial,Helvetica,sans-serif>/</FONT><FONT face=Arial,Helvetica,sans-serif>3</FONT><FONT face=Arial,Helvetica,sans-serif>0</FONT><FONT face=Arial,Helvetica,sans-serif>/</FONT><FONT face=Arial,Helvetica,sans-serif>20</FONT><FONT face=Arial,Helvetica,sans-serif>15</FONT></FONT></P></TD>

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   <P style="MARGIN-TOP: 2pt; MARGIN-BOTTOM: 2pt; MARGIN-LEFT: 20pt"><FONT style="FONT-SIZE: 10pt" face=Arial,Helvetica,sans-serif>1/1/</FONT><FONT style="FONT-SIZE: 10pt"><FONT face=Arial,Helvetica,sans-serif>20</FONT><FONT face=Arial,Helvetica,sans-serif>14 to 6/</FONT><FONT face=Arial,Helvetica,sans-serif>3</FONT><FONT face=Arial,Helvetica,sans-serif>0</FONT><FONT face=Arial,Helvetica,sans-serif>/</FONT><FONT face=Arial,Helvetica,sans-serif>20</FONT><FONT face=Arial,Helvetica,sans-serif>14</FONT></FONT></P></TD>

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   <P style="MARGIN-TOP: 2pt; MARGIN-BOTTOM: 2pt"><FONT style="FONT-SIZE: 10pt" face=Arial,Helvetica,sans-serif>S</FONT><FONT style="FONT-SIZE: 10pt"><FONT face=Arial,Helvetica,sans-serif>t</FONT><FONT face=Arial,Helvetica,sans-serif>a</FONT><FONT face=Arial,Helvetica,sans-serif>t</FONT><FONT face=Arial,Helvetica,sans-serif>eme</FONT><FONT face=Arial,Helvetica,sans-serif>n</FONT><FONT face=Arial,Helvetica,sans-serif>t o</FONT><FONT face=Arial,Helvetica,sans-serif>f V</FONT><FONT face=Arial,Helvetica,sans-serif>alue Ad</FONT><FONT face=Arial,Helvetica,sans-serif>de</FONT><FONT face=Arial,Helvetica,sans-serif>d</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: #c0c0c0 1px dotted" width="10%" align=right><FONT style="FONT-SIZE: 10pt" face=Arial,Helvetica,sans-serif>1</FONT><FONT style="FONT-SIZE: 10pt" face=Arial,Helvetica,sans-serif>2</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #c0c0c0 1px dotted" width="90%" align=left>

   <P style="MARGIN-TOP: 2pt; MARGIN-BOTTOM: 2pt"><FONT style="FONT-SIZE: 10pt" face=Arial,Helvetica,sans-serif>C</FONT><FONT style="FONT-SIZE: 10pt"><FONT face=Arial,Helvetica,sans-serif>ommen</FONT><FONT face=Arial,Helvetica,sans-serif>t</FONT><FONT face=Arial,Helvetica,sans-serif>s o</FONT><FONT face=Arial,Helvetica,sans-serif>n t</FONT><FONT face=Arial,Helvetica,sans-serif>he Co</FONT><FONT face=Arial,Helvetica,sans-serif>mp</FONT><FONT face=Arial,Helvetica,sans-serif>an</FONT><FONT face=Arial,Helvetica,sans-serif>y</FONT><FONT face=Arial,Helvetica,sans-serif>&#8217;</FONT><FONT face=Arial,Helvetica,sans-serif>s Pe</FONT><FONT face=Arial,Helvetica,sans-serif>r</FONT><FONT face=Arial,Helvetica,sans-serif>f</FONT><FONT face=Arial,Helvetica,sans-serif>o</FONT><FONT face=Arial,Helvetica,sans-serif>rm</FONT><FONT face=Arial,Helvetica,sans-serif>an</FONT><FONT face=Arial,Helvetica,sans-serif>c</FONT><FONT face=Arial,Helvetica,sans-serif>e</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: #c0c0c0 1px dotted" width="10%" align=right><FONT style="FONT-SIZE: 10pt" face=Arial,Helvetica,sans-serif>13</FONT></TD></TR>

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   <TD style="BORDER-BOTTOM: #c0c0c0 1px dotted" width="90%" align=left>

   <P style="MARGIN-TOP: 2pt; MARGIN-BOTTOM: 2pt"><FONT style="FONT-SIZE: 10pt" face=Arial,Helvetica,sans-serif>N</FONT><FONT style="FONT-SIZE: 10pt"><FONT face=Arial,Helvetica,sans-serif>ot</FONT><FONT face=Arial,Helvetica,sans-serif>e</FONT><FONT face=Arial,Helvetica,sans-serif>s t</FONT><FONT face=Arial,Helvetica,sans-serif>o </FONT><FONT face=Arial,Helvetica,sans-serif>th</FONT><FONT face=Arial,Helvetica,sans-serif>e F</FONT><FONT face=Arial,Helvetica,sans-serif>i</FONT><FONT face=Arial,Helvetica,sans-serif>na</FONT><FONT face=Arial,Helvetica,sans-serif>ncial St</FONT><FONT face=Arial,Helvetica,sans-serif>a</FONT><FONT face=Arial,Helvetica,sans-serif>t</FONT><FONT face=Arial,Helvetica,sans-serif>em</FONT><FONT face=Arial,Helvetica,sans-serif>en</FONT><FONT face=Arial,Helvetica,sans-serif>t</FONT><FONT face=Arial,Helvetica,sans-serif>s</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: #c0c0c0 1px dotted" width="10%" align=right><FONT style="FONT-SIZE: 10pt" face=Arial,Helvetica,sans-serif>1</FONT><FONT style="FONT-SIZE: 10pt" face=Arial,Helvetica,sans-serif>9</FONT></TD></TR>

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   <TD style="BORDER-BOTTOM: #c0c0c0 1px dotted" width="90%" align=left>

   <P style="MARGIN-TOP: 2pt; MARGIN-BOTTOM: 2pt"><FONT style="FONT-SIZE: 10pt" face=Arial,Helvetica,sans-serif>Co</FONT><FONT style="FONT-SIZE: 10pt"><FONT face=Arial,Helvetica,sans-serif>mmen</FONT><FONT face=Arial,Helvetica,sans-serif>t</FONT><FONT face=Arial,Helvetica,sans-serif>s o</FONT><FONT face=Arial,Helvetica,sans-serif>n t</FONT><FONT face=Arial,Helvetica,sans-serif>he Co</FONT><FONT face=Arial,Helvetica,sans-serif>mp</FONT><FONT face=Arial,Helvetica,sans-serif>an</FONT><FONT face=Arial,Helvetica,sans-serif>y</FONT><FONT face=Arial,Helvetica,sans-serif>&#8217;</FONT><FONT face=Arial,Helvetica,sans-serif>s Pr</FONT><FONT face=Arial,Helvetica,sans-serif>o</FONT><FONT face=Arial,Helvetica,sans-serif>j</FONT><FONT face=Arial,Helvetica,sans-serif>e</FONT><FONT face=Arial,Helvetica,sans-serif>c</FONT><FONT face=Arial,Helvetica,sans-serif>t</FONT><FONT face=Arial,Helvetica,sans-serif>i</FONT><FONT face=Arial,Helvetica,sans-serif>o</FONT><FONT face=Arial,Helvetica,sans-serif>ns</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: #c0c0c0 1px dotted" width="10%" align=right><FONT style="FONT-SIZE: 10pt" face=Arial,Helvetica,sans-serif>7</FONT><FONT style="FONT-SIZE: 10pt" face=Arial,Helvetica,sans-serif>2</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #c0c0c0 1px dotted" width="90%" align=left>

   <P style="MARGIN-TOP: 2pt; MARGIN-BOTTOM: 2pt"><FONT style="FONT-SIZE: 10pt" face=Arial,Helvetica,sans-serif>Other Information Deemed as Relevant by the Company</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #c0c0c0 1px dotted" width="10%" align=right><FONT style="FONT-SIZE: 10pt" face=Arial,Helvetica,sans-serif>7</FONT><FONT style="FONT-SIZE: 10pt" face=Arial,Helvetica,sans-serif>3</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #c0c0c0 1px dotted; TEXT-INDENT: 2.16pt" width="90%" align=left>

   <P style="MARGIN-TOP: 2pt; MARGIN-BOTTOM: 2pt"><B><FONT style="FONT-SIZE: 11pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>R</FONT></B><FONT style="FONT-SIZE: 11pt"><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif>epo</FONT></B><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif>r</FONT></B><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif>ts and </FONT></B><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif>St</FONT></B><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif>at</FONT></B><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif>em</FONT></B><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif>e</FONT></B><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif>nt</FONT></B></FONT><B><FONT style="FONT-SIZE: 11pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>s</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #c0c0c0 1px dotted" width="10%" align=left><FONT style="FONT-SIZE: 10pt">&nbsp;</FONT></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #c0c0c0 1px dotted; TEXT-INDENT: 7.08pt" width="90%" align=left>

   <P style="MARGIN-TOP: 2pt; MARGIN-BOTTOM: 2pt"><FONT style="FONT-SIZE: 10pt" face=Arial,Helvetica,sans-serif>Unqualified Report o</FONT><FONT style="FONT-SIZE: 10pt"><FONT face=Arial,Helvetica,sans-serif>n S</FONT><FONT face=Arial,Helvetica,sans-serif>p</FONT><FONT face=Arial,Helvetica,sans-serif>eci</FONT><FONT face=Arial,Helvetica,sans-serif>a</FONT><FONT face=Arial,Helvetica,sans-serif>l R</FONT><FONT face=Arial,Helvetica,sans-serif>ev</FONT><FONT face=Arial,Helvetica,sans-serif>iew</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: #c0c0c0 1px dotted" width="10%" align=right><FONT style="FONT-SIZE: 10pt" face=Arial,Helvetica,sans-serif>75</FONT></TD></TR></TABLE>

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   <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt"><FONT color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>

   <TD width="15%">

   <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>

<P><B><FONT style="FONT-SIZE: 12pt" face=Arial,sans-serif>Company Information / Capital Breakdown</FONT></B></P>

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<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.119pt" bgColor=#d2d2d2 width="50%" align=left>

   <P style="MARGIN-LEFT: 2pt"><B><FONT style="FONT-SIZE: 9pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>Number of Shares</FONT></B></P></TD>

   <TD bgColor=#d2d2d2 width="50%" align=right>

   <P style="MARGIN-RIGHT: 50pt"><B><FONT style="FONT-SIZE: 9pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>Current Quarter</FONT></B></P></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.119pt" bgColor=#d2d2d2 width="50%" align=left>

   <P style="MARGIN-LEFT: 2pt"><B><FONT style="FONT-SIZE: 9pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>(Units)</FONT></B></P></TD>

   <TD bgColor=#d2d2d2 width="50%" align=right>

   <P style="MARGIN-RIGHT: 50pt"><B><FONT style="FONT-SIZE: 9pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>6/30/2015</FONT></B></P></TD></TR>

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   <TD style="TEXT-INDENT: 0.119pt" bgColor=#dcdcdc width="50%" align=left>

   <P style="MARGIN-LEFT: 2pt"><B><FONT style="FONT-SIZE: 9pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>Paid-in Capital</FONT></B></P></TD>

   <TD bgColor=#dcdcdc width="50%" align=left>

   <P style="MARGIN-RIGHT: 50pt"><FONT style="FONT-SIZE: 9pt"></FONT>&nbsp;</P></TD></TR>

<TR vAlign=bottom>

   <TD width="50%" align=left>

   <P style="MARGIN-LEFT: 2pt"><B><FONT style="FONT-SIZE: 9pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>Common</FONT></B></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-RIGHT: 50pt"><FONT style="FONT-SIZE: 9pt" face=Arial,Helvetica,sans-serif>683,509,869</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD width="50%" align=left>

   <P style="MARGIN-LEFT: 2pt"><B><FONT style="FONT-SIZE: 9pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>Preferred</FONT></B></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-RIGHT: 50pt"><FONT style="FONT-SIZE: 9pt" face=Arial,Helvetica,sans-serif>0</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.239pt" bgColor=#f5f5f5 width="50%" align=left>

   <P style="MARGIN-LEFT: 2pt"><B><FONT style="FONT-SIZE: 9pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>Total</FONT></B></P></TD>

   <TD bgColor=#f5f5f5 width="50%" align=right>

   <P style="MARGIN-RIGHT: 50pt"><FONT style="FONT-SIZE: 9pt" face=Arial,Helvetica,sans-serif>683,509,869</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.239pt" bgColor=#dcdcdc width="50%" align=left>

   <P style="MARGIN-LEFT: 2pt"><B><FONT style="FONT-SIZE: 9pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>Treasury Shares</FONT></B></P></TD>

   <TD bgColor=#dcdcdc width="50%" align=left>

   <P style="MARGIN-RIGHT: 50pt"><FONT style="FONT-SIZE: 9pt"></FONT>&nbsp;</P></TD></TR>

<TR vAlign=bottom>

   <TD width="50%" align=left>

   <P style="MARGIN-LEFT: 2pt"><B><FONT style="FONT-SIZE: 9pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>Common</FONT></B></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-RIGHT: 50pt"><FONT style="FONT-SIZE: 9pt" face=Arial,Helvetica,sans-serif>0</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD width="50%" align=left>

   <P style="MARGIN-LEFT: 2pt"><B><FONT style="FONT-SIZE: 9pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>Preferred</FONT></B></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-RIGHT: 50pt"><FONT style="FONT-SIZE: 9pt" face=Arial,Helvetica,sans-serif>0</FONT></P></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.119pt" bgColor=#f5f5f5 width="50%" align=left>

   <P style="MARGIN-LEFT: 2pt"><B><FONT style="FONT-SIZE: 9pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>Total</FONT></B></P></TD>

   <TD bgColor=#f5f5f5 width="50%" align=right>

   <P style="MARGIN-RIGHT: 50pt"><FONT style="FONT-SIZE: 9pt" face=Arial,Helvetica,sans-serif>0</FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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      <DIV>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt"><FONT color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>- 06/30/2015 - CIA
      SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>
    <TD width="15%">
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>
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<DIV align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>&nbsp;&nbsp;&nbsp;</FONT><B><FONT style="FONT-SIZE: 12pt" face=Arial,sans-serif>Company Information / Cash Proceeds</FONT></B></DIV></DIV>
<P style="MARGIN: 9.5pt 0in 0pt 8.3pt">&nbsp;</P>
<TABLE style="WIDTH: 100%" cellSpacing=0 border=0>

  <TR>
    <TD width="15%"></TD>
    <TD width="10%"></TD>
    <TD width="15%"></TD>
    <TD width="15%"></TD>
    <TD width="15%"></TD>
    <TD width="15%"></TD>
    <TD width="15%"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=bottom width="15%" align=left><B><FONT style="FONT-SIZE: 9pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>Event</FONT></B></TD>
    <TD vAlign=bottom width="10%" align=left><B><FONT style="FONT-SIZE: 9pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>Approval</FONT></B></TD>
    <TD vAlign=bottom width="15%" align=left><B><FONT style="FONT-SIZE: 9pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>Proceeds</FONT></B></TD>
    <TD vAlign=bottom width="15%" align=right>
      <P style="MARGIN-RIGHT: 5pt"><B><FONT style="FONT-SIZE: 9pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>Date of
    Payment</FONT></B></P></TD>
    <TD vAlign=bottom width="15%" align=left>
      <P style="MARGIN-LEFT: 2pt"><B><FONT style="FONT-SIZE: 9pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>Type of
    Share</FONT></B></P></TD>
    <TD vAlign=bottom width="15%" align=left><B><FONT style="FONT-SIZE: 9pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>Class of Share</FONT></B></TD>
    <TD vAlign=bottom width="15%" align=right><B><FONT style="FONT-SIZE: 9pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>Earnings per
    share</FONT></B></TD></TR>
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    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width="15%" align=left><FONT style="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width="10%" align=left><FONT style="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width="15%" align=left><FONT style="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width="15%" align=left>
      <P style="MARGIN-RIGHT: 5pt"><FONT style="FONT-SIZE: 9pt"></FONT>&nbsp;</P></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width="15%" align=left><FONT style="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width="15%" align=left><FONT style="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom width="15%" align=right><B><FONT style="FONT-SIZE: 9pt" face=Arial-BoldMT,Arial,Helvetica,sans-serif>(Reais /
  Share)</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #c0c0c0 1px dotted; TEXT-INDENT: 0.36pt" vAlign=bottom width="15%" align=left><FONT style="FONT-SIZE: 9pt" face=Arial,Helvetica,sans-serif>Board of Directors&#8217; Meeting</FONT></TD>
    <TD style="BORDER-BOTTOM: #c0c0c0 1px dotted; TEXT-INDENT: 0.959pt" vAlign=bottom width="10%" align=left><FONT style="FONT-SIZE: 9pt" face=Arial,Helvetica,sans-serif>3/26/2015</FONT></TD>
    <TD style="BORDER-BOTTOM: #c0c0c0 1px dotted; TEXT-INDENT: 0.359pt" vAlign=bottom width="15%" align=left><FONT style="FONT-SIZE: 9pt" face=Arial,Helvetica,sans-serif>Interest on Shareholders&#8217; Equity
</FONT></TD>
    <TD style="BORDER-BOTTOM: #c0c0c0 1px dotted" vAlign=bottom width="15%" align=right>
      <P style="MARGIN-RIGHT: 5pt"><FONT style="FONT-SIZE: 9pt">&nbsp;<FONT face=Arial>6/29/2015</FONT></FONT></P></TD>
    <TD style="BORDER-BOTTOM: #c0c0c0 1px dotted; TEXT-INDENT: 0.478pt" vAlign=bottom width="15%" align=left>
      <P style="MARGIN-LEFT: 2pt"><FONT style="FONT-SIZE: 9pt" face=Arial,Helvetica,sans-serif>Common</FONT></P></TD>
    <TD style="BORDER-BOTTOM: #c0c0c0 1px dotted" vAlign=bottom width="15%" align=left><FONT style="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #c0c0c0 1px dotted" vAlign=bottom width="15%" align=right><FONT style="FONT-SIZE: 9pt" face=Arial,Helvetica,sans-serif>0.36913</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-INDENT: 0.36pt" width="15%" align=left><FONT size=1 face=Arial,Helvetica,sans-serif></FONT></TD>
    <TD width="10%" align=left>&nbsp;</TD>
    <TD width="15%" align=left>&nbsp;</TD>
    <TD width="15%" align=left>&nbsp;</TD>
    <TD width="15%" align=left>&nbsp;</TD>
    <TD width="15%" align=left>&nbsp;</TD>
    <TD width="15%" align=left>&nbsp;</TD></TR></TABLE>
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      SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>
    <TD width="15%">
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader5"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 5%"></P>
<DIV align=left>&nbsp;</DIV>
<DIV align=left><B><FONT style="FONT-SIZE: 12pt" face=Arial,sans-serif>&nbsp;Parent Company&#8217;s Financial Statements/Statement of
Financial Position - Assets (R$ thousand)</FONT></B></DIV>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="100%" colSpan=4>
      <DIV style="PADDING-BOTTOM: 0pt; PADDING-TOP: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt">&nbsp;</DIV></TD></TR>
  <TR style="HEIGHT: 24.2pt">
    <TD style="HEIGHT: 24.2pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="15%">
      <P style="MARGIN: 2.05pt 13.15pt 0pt 3.75pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Code</FONT></B></P></TD>
    <TD style="HEIGHT: 24.2pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="49%">
      <P style="MARGIN: 2.05pt 0in 0pt 2.2pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Description</FONT></B></P></TD>
    <TD style="HEIGHT: 24.2pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="18%" align=right>
      <P style="MARGIN: 2.05pt 0in 0pt 48.95pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Current
Quarter</FONT></B></P>
      <P style="MARGIN: 0in 0in 0pt 69.95pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6/30/2015</FONT></B></P></TD>
    <TD style="HEIGHT: 24.2pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="18%" align=right>
      <P style="MARGIN: 2.05pt 0in 0pt 20.75pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Previous Year</FONT></B></P>
      <P style="MARGIN: 0in 0in 0pt 53.2pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>12/31/2014</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 15.3pt">
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 2.05pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 2.05pt 0in 0pt 2.2pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Total Assets</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>31,120,003</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>30,355,440</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 1.4pt 0in 0pt 2.2pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Current Assets</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,463,266</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,215,445</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.01.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 1.4pt 0in 0pt 2.2pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Cash and Cash Equivalents</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>803,031</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,722,991</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.01.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 1.4pt 0in 0pt 2.2pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Accounts Receivable</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,273,181</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,156,785</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.01.03.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 1.4pt 0in 0pt 2.2pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Trade Accounts Receivable</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,144,774</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,034,820</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.01.03.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 1.4pt 0in 0pt 2.2pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other Accounts Receivable</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>128,407</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>121,965</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.01.03.02.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 1.4pt 0in 0pt 2.2pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Balances with Related Parties</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>128,407</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>121,965</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.01.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 1.4pt 0in 0pt 2.2pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Inventories</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>55,330</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>66,487</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.01.06</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 1.4pt 0in 0pt 2.2pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Recoverable Taxes</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>112,331</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>148,768</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.01.06.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Current Recoverable Taxes</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>112,331</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>148,768</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.01.08</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other Current Assets</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>219,393</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>120,414</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.01.08.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>219,393</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>120,414</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.01.08.03.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Restricted Cash</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>20,171</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>19,750</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.01.08.03.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Financial Asset Held for Trading</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>86,930</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.01.08.03.20</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other Accounts Receivable</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>112,292</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>100,664</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Noncurrent Assets</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>28,656,737</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>27,139,995</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Long-Term Assets</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,220,398</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>780,362</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.01.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Accounts Receivable</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>165,243</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>189,458</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.01.03.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Trade Accounts Receivable</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>165,243</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>189,458</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.01.06</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Deferred Taxes</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>75,100</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>209,478</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.01.06.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Deferred Income Tax and Social
      Contribution</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>75,100</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>209,478</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.01.08</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Receivables from Related Parties</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>689,267</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>102,018</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.01.08.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Receivables from Controlling
    Shareholders</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>689,267</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>102,018</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.01.09</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other Noncurrent Assets</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>290,788</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>279,408</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.01.09.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Escrow Deposits</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>81,614</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>69,488</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.01.09.05</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>ANA &#8211; National Water Agency</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>127,855</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>122,634</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.01.09.20</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other Accounts Receivable</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>81,319</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>87,286</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Investments</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>85,683</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>75,262</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.02.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Shareholdings</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>24,134</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>21,223</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.02.01.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other Shareholdings</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>24,134</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>21,223</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.02.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Investment Properties</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>61,549</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>54,039</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Property, Plant and Equipment</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>307,434</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>304,845</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Intangible Assets</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>27,043,222</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>25,979,526</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.04.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Intangible Assets</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>27,043,222</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>25,979,526</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.04.01.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Concession Contracts</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>8,653,155</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>8,650,531</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.04.01.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Program Contracts</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6,626,550</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6,082,062</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.04.01.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Service Contracts</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>11,471,117</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>10,986,386</FONT></P></TD></TR>
  <TR style="HEIGHT: 16.6pt">
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.02.04.01.04</FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.8pt 0pt 2.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Software License</FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>292,400</FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>260,547</FONT></P></TD></TR>
  <TR>
    <TD width="100%" colSpan=4>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD></TR></TABLE></DIV></DIV><FONT style="LINE-HEIGHT: 200%" face=arial,sans-serif></FONT>
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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 3 of 76</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_6></A>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="85%">
      <DIV>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt"><FONT color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>- 06/30/2015 - CIA
      SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>
    <TD width="15%">
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="MARGIN: 9.7pt 61.5pt 0pt 9.3pt; LINE-HEIGHT: 200%"><FONT style="LINE-HEIGHT: 200%" face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif>Parent Company&#8217;s Financial
Statements/Statement of Financial Position &#8211; Liabilities (R$
thousands)</FONT></B></FONT></P>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=bottom width="100%" colSpan=4>
      <DIV style="PADDING-BOTTOM: 0pt; PADDING-TOP: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt">&nbsp;</DIV></TD></TR>
  <TR style="HEIGHT: 24.2pt">
    <TD style="HEIGHT: 24.2pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="15%">
      <P style="MARGIN: 2.05pt 13.15pt 0pt 3.75pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Code</FONT></B></P></TD>
    <TD style="HEIGHT: 24.2pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="49%">
      <P style="MARGIN: 2.05pt 0in 0pt 2.2pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Description</FONT></B></P></TD>
    <TD style="HEIGHT: 24.2pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0.1in 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Current
      Quarter</FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6/30/2015</FONT></B></P></TD>
    <TD style="HEIGHT: 24.2pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0.1in 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Previous
      Year</FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>12/31/2014</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 15.3pt">
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 2.05pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Total Liabilities</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>31,120,003</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>30,355,440</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Current Liabilities</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,892,090</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,480,576</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Labor and Social Security Liabilities</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>353,717</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>387,971</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.01.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Social Security Liabilities</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>27,256</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>38,427</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.01.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Labor Liabilities</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>326,461</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>349,544</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Trade Accounts Payable</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>254,389</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>323,513</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.02.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Domestic Suppliers</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>254,389</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>323,513</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Tax Liabilities</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>70,590</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>74,138</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.03.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Federal Tax Liabilities</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>62,739</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>64,209</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.03.01.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>PIS-PASEP and COFINS (taxes on revenue)
      Payable</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>17,345</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.03.01.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>INSS (social security contribution)
      Payable</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>35,376</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>33,324</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.03.01.20</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other Federal Taxes</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>10,018</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>30,885</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.03.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 1.4pt 0in 0pt 2.2pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>State Taxes Liabilities</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>48</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.03.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 1.4pt 0in 0pt 2.2pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Municipal Taxes Liabilities</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7,851</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>9,881</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Loans and Financing</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>859,871</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,207,126</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.04.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Loans and Financing</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>493,000</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>484,064</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.04.01.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>In Domestic Currency</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>215,319</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>245,384</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.04.01.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>In Foreign Currency</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>277,681</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>238,680</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.04.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Debentures</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>357,164</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>714,065</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.04.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Financing through finance lease</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>9,707</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>8,997</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.05</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other Liabilities</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>756,379</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>862,736</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.05.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Payables to Related Parties</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,423</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,569</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.05.01.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Payables to Controlling Shareholders</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,423</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,569</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.05.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>753,956</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>861,167</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.05.02.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Dividends and Interest on Equity
    Payable</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>126,887</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>214,523</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.05.02.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Services Payable</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>302,680</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>318,973</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.05.02.05</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Refundable Amounts</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>9,264</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>16,929</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.05.02.06</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Program Contract Commitments</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>201,762</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>189,551</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.05.02.07</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Private Public Partnership &#8211; PPP</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>38,977</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>38,047</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.05.02.09</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Indemnities</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>9,875</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>10,516</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.05.02.20</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other Payables</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>64,511</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>72,628</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.06</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Provisions</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>597,144</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>625,092</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.06.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Tax, Social Security, Labor and Civil
      Provisions</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>122,573</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>120,003</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.06.01.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Tax Provisions</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>10,157</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>8,681</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.06.01.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Social Security and Labor Provisions</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>44,105</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>48,340</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.06.01.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Civil Provisions</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>68,311</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>62,982</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.06.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other Provisions</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>474,571</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>505,089</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.06.02.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Provisions for Environmental Liabilities and
      Decommissioning</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>12,724</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>62,250</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.06.02.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Provisions for Customers</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>393,907</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>382,937</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.01.06.02.05</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Provisions for Suppliers</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>67,940</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>59,902</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Non-Current Liabilities</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>14,290,019</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>13,570,461</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Loans and Financing</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>10,231,564</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>9,578,641</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.01.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 1.65pt 0pt 3.7pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Loans and Financing</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6,553,578</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>5,718,135</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.01.01.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 4.15pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>In Domestic Currency</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,709,266</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,610,523</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.01.01.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>In Foreign Currency</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,844,312</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,107,612</FONT></P></TD></TR>
  <TR style="HEIGHT: 16.6pt">
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.01.02</FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Debentures</FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,183,949</FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,386,913</FONT></P></TD></TR>
  <TR>
    <TD width="100%" colSpan=4>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD></TR></TABLE><FONT style="LINE-HEIGHT: 200%" face=arial,sans-serif></FONT>
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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 4 of 76</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_7></A>
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  <TR>
    <TD width="85%">
      <DIV>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt"><FONT color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>- 06/30/2015 - CIA
      SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>
    <TD width="15%">
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="MARGIN: 9.7pt 61.5pt 0pt 9.3pt; LINE-HEIGHT: 200%"><FONT style="LINE-HEIGHT: 200%" face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif>&nbsp;Parent Company&#8217;s Financial
Statements/Statement of Financial Position &#8211; Liabilities (R$
thousands)</FONT></B></FONT></P>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="100%" colSpan=4>
      <DIV style="PADDING-BOTTOM: 0pt; PADDING-TOP: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt">&nbsp;</DIV></TD></TR>
  <TR style="HEIGHT: 24.2pt">
    <TD style="HEIGHT: 24.2pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="15%">
      <P style="MARGIN: 2.05pt 13.15pt 0pt 3.75pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Code</FONT></B></P></TD>
    <TD style="HEIGHT: 24.2pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="49%">
      <P style="MARGIN: 2.05pt 0in 0pt 2.2pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Description</FONT></B></P></TD>
    <TD style="HEIGHT: 24.2pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Current
Quarter</FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6/30/2015</FONT></B></P></TD>
    <TD style="HEIGHT: 24.2pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Previous Year</FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>12/31/2014</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 15.3pt">
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 2.05pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.01.03</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Financing through finance lease</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>494,037</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>473,593</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other Payables</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,679,621</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,396,565</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.02.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,679,621</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,396,565</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.02.02.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Pension Plan Liabilities</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,810,893</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,729,598</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.02.02.05</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Program Contract Commitments</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>41,790</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>18,208</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.02.02.06</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Private Public Partnership &#8211; PPP</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>504,378</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>330,236</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.02.02.07</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Indemnities</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>12,184</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>8,925</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.02.02.08</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Labor Liabilities</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>17,223</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>23,498</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.02.02.09</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Deferred COFINS and PASEP</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>131,135</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>129,351</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.02.02.20</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other Payables</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>162,018</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>156,749</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Provisions</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>378,834</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>595,255</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.04.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Tax, Pension Plan, Labor and Civil
      Provisions</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>251,263</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>285,197</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.04.01.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Tax Provisions</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>48,589</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>46,873</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.04.01.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Pension Plan and Labor Provisions</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>159,442</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>184,893</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.04.01.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Civil Provisions</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>43,232</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>53,431</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.04.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other Provisions</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>127,571</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>310,058</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.04.02.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Provisions for Environmental Liabilities and
      Decommissioning</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>63,922</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>163,347</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.04.02.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Provisions for Customers</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>62,099</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>141,237</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.02.04.02.05</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Provisions for Suppliers</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,550</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>5,474</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Equity</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>13,937,894</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>13,304,403</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.03.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Paid-Up Capital </FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>10,000,000</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>10,000,000</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.03.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 1.4pt 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Profit Reserve</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,672,149</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,694,151</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.03.04.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 1.4pt 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Legal Reserves</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>758,141</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>758,141</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.03.04.08</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Additional Dividend Proposed</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>22,002</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.03.04.10</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Reserve for Investments</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,914,008</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,914,008</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.03.05</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Retained Earnings/Accumulated Losses</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>655,493</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD></TR>
  <TR style="HEIGHT: 16.6pt">
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.03.06</FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 1.4pt 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Equity Valuation Adjustments</FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-389,748</FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-389,748</FONT></P></TD></TR>
  <TR>
    <TD width="100%" colSpan=4>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD></TR></TABLE><FONT style="LINE-HEIGHT: 200%" face=arial,sans-serif></FONT>
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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_8></A>
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  <TR>
    <TD width="85%">
      <DIV>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt"><FONT color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>- 06/30/2015 - CIA
      SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>
    <TD width="15%">
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="MARGIN: 9.7pt 192pt 0pt 9.3pt; LINE-HEIGHT: 200%"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif>&nbsp;</FONT><FONT style="LINE-HEIGHT: 200%" face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif>Parent Company&#8217;s Financial
Statements/Statement of Income (R$ thousands)</FONT></B></FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 8.1pt 0pt 3.75pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Code</FONT></B></P></TD>
    <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Description</FONT></B></P></TD>
    <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>Current Quarter</FONT></B></P>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>4/1/2015 to 6/30/2015</FONT></B></P></TD>
    <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>YTD
      Current Year </FONT></B></P>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>1/1/2015 to 6/30/2015</FONT></B></P></TD>
    <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>Same
      Quarter </FONT></B></P>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>Previous Year</FONT></B></P>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>4/1/2014 to 6/30/2014</FONT></B></P></TD>
    <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>YTD
      Previous Year </FONT></B></P>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>1/1/2014 to 6/30/2014</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.01</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Revenue from Sales and/or Services</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,822,852</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>5,291,493</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,754,153</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>5,546,083</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.02</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Cost of Sales and/or Services</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-2,105,409</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-3,864,086</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-1,830,133</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-3,508,850</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.02.01</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Cost of Sales and/or Services</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-1,220,186</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-2,402,487</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-1,165,916</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-2,324,161</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.02.02</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Construction Cost</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-885,223</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-1,461,599</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-664,217</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-1,184,689</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.03</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Gross Profit</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>717,443</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,427,407</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>924,020</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,037,233</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.04</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Operating Income/Expenses</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-233,241</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>193,057</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-479,678</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-880,386</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.04.01</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Selling Expenses</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-146,971</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-331,452</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-215,232</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-371,829</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.04.02</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>General and Administrative Expenses</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-97,932</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>479,676</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-269,704</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-470,378</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.04.04</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Other Operating Income</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>35,186</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>64,469</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>21,638</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>38,145</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.04.04.01</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Other Operating Income</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>39,440</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>73,526</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>25,091</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>42,905</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.04.04.02</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>COFINS and PASEP</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-4,254</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-9,057</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-3,453</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-4,760</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.04.05</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Other Operating Expenses</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-23,409</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-20,635</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-16,429</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-76,005</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.04.05.01</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Loss on Write-off of Property, Plant and Equipment
      Items</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-7,539</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>762</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-6,445</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-52,092</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.04.05.03</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Tax Incentives</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-7,770</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-7,770</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-7,702</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-8,567</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.04.05.04</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" color=#231f20 face=arial,sans-serif>Surplus Cost of Traded Electricity
      </FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-6,086</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-11,618</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>0</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.04.05.06</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" color=#231f20 face=arial,sans-serif>Provision for losses - Diadema and
      Saned</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-1,967</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-14,967</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.04.05.20</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Other</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-2,014</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-2,009</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-315</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-379</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.04.06</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Equity in the Earnings (Losses) of
      Investees</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-115</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>999</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>49</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-319</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.05</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Income Before Financial Result and
    Taxes</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>484,202</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,620,464</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>444,342</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,156,847</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.06</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Financial Result</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>155,392</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-830,368</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-21,577</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>5,942</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.06.01</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Finance Income</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>125,390</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>229,778</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>84,607</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>181,115</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.06.01.01</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Finance Income</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>125,342</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>229,171</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>84,875</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>181,727</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.06.01.02</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Foreign Exchange Gains </FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>48</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>607</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-268</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-612</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.06.02</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Finance Expenses</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>30,002</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-1,060,146</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-106,184</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-175,173</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.06.02.01</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Finance Expenses</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-178,911</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-384,534</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-190,409</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-376,407</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.06.02.02</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Foreign Exchange Losses</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>208,913</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-675,612</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>84,225</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>201,234</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.07</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Earnings Before Income Tax</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>639,594</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>790,096</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>422,765</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,162,789</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.08</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Income Tax and Social Contribution </FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-302,279</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-134,603</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-120,343</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-382,781</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.08.01</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Current</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-225</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-225</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-135,474</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-412,191</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.08.02</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Deferred</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-302,054</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-134,378</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>15,131</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>29,410</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.09</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Net Result from Continued Operations</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>337,315</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>655,493</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>302,422</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>780,008</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.11</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Profit/Loss for the Period</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>337,315</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>655,493</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>302,422</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>780,008</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.99</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Earnings per Share - (Reais / Share)</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.99.01</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Basic Earnings per Share</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.99.01.01</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Common Share</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>0.49350</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>0.95901</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>0.44246</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1.14118</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.99.02</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Diluted Earnings per Share</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3.99.02.01</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Common Share</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>0.49350</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>0.95901</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>0.44246</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1.14118</FONT></P></TD></TR></TABLE></DIV>
<DIV align=left>&nbsp;</DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 6 of 76</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_9></A>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="85%">
      <DIV>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt"><FONT color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>- 06/30/2015 - CIA
      SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>
    <TD width="15%">
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="MARGIN: 9.7pt 0in 0pt 8.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" 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 lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 8.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif>(R$ thousands)</FONT></B></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 8.1pt 0pt 3.75pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Code</FONT></B></P></TD>
    <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><B><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Description</FONT></B></P></TD>
    <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>Current Quarter</FONT></B></P>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>4/1/2015 to 6/30/2015</FONT></B></P></TD>
    <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>YTD
      Current Year </FONT></B></P>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>1/1/2015 to 6/30/2015</FONT></B></P></TD>
    <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>Same
      Quarter <BR>Previous Year</FONT></B></P>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>4/1/2014 to 6/30/2014</FONT></B></P></TD>
    <TD style="HEIGHT: 11.35pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>YTD
      Previous Year </FONT></B></P>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>1/1/2014 to 6/30/2014</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 8.1pt 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>4.01</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Net Income for the Period</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>337,315</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>655,493</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>302,422</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>780,008</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.35pt">
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%">
      <P style="MARGIN: 0in 8.1pt 0pt 3.75pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>4.03</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt 8.2pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Comprehensive Income for the Period</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>337,315</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>655,493</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>302,422</FONT></P></TD>
    <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0in 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif>780,008</FONT></P></TD></TR></TABLE></DIV>
<P>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 7 of 76</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_10></A>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="85%">
      <DIV>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt"><FONT color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>- 06/30/2015 - CIA
      SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>
    <TD width="15%">
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader10"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 5%"></P>
<DIV align=left>&nbsp;</DIV>
<DIV align=left><B><FONT style="FONT-SIZE: 12pt" face=Arial,sans-serif>&nbsp;Parent Company&#8217;s Financial Statements/Statement of
Cash Flows &#8211; Indirect Method (R$ thousands)</FONT></B></DIV>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="100%" colSpan=4>
      <DIV style="PADDING-BOTTOM: 0pt; PADDING-TOP: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt">&nbsp;</DIV></TD></TR>
  <TR style="HEIGHT: 34.55pt">
    <TD style="HEIGHT: 34.55pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="15%">
      <P style="MARGIN: 2.05pt 7.65pt 0pt 3.75pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Code</FONT></B></P></TD>
    <TD style="HEIGHT: 34.55pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="49%">
      <P style="MARGIN: 2.05pt 0in 0pt 7.75pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Description</FONT></B></P></TD>
    <TD style="HEIGHT: 34.55pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="18%" align=right>
      <P style="MARGIN: 2.05pt 0in 0pt 23.5pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>YTD Current Year <BR>1/1/2015
      to 6/30/2015</FONT></B></P></TD>
    <TD style="HEIGHT: 34.55pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="18%" align=right>
      <P style="MARGIN: 2.05pt 0in 0pt 7pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>YTD Previous Year
      <BR>1/1/2014 to 6/30/2014</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 15.3pt">
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 2.05pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Net Cash from Operating Activities</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>935,161</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,277,913</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Cash from Operations</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,475,712</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,991,784</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.5pt">
    <TD style="HEIGHT: 12.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.01.01</FONT></P></TD>
    <TD style="HEIGHT: 12.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Profit Before Income Tax and Social
      Contribution</FONT></P></TD>
    <TD style="HEIGHT: 12.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>790,096</FONT></P></TD>
    <TD style="HEIGHT: 12.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,162,789</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.25pt">
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.5pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.01.02</FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Provision and Inflation Adjustments on
      Provisions</FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-171,045</FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>95,467</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.01.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 1.4pt 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>GESP Agreement</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-696,283</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.01.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Financial Charges from Customers</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-111,328</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-99,846</FONT></P></TD></TR>
  <TR style="HEIGHT: 14pt">
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.01.05</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Residual Value of Written-off Property, Plant and
      Equipment and Intangible Assets</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,491</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,801</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.01.06</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Depreciation and Amortization</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>537,395</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>482,852</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.01.07</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Interest on Loans and Financing
Payable</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>232,201</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>216,351</FONT></P></TD></TR>
  <TR style="HEIGHT: 14pt">
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.01.08</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Monetary and Foreign Exchange Change on Loans and
      Financing</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>773,054</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-139,278</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.25pt">
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.5pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.01.09</FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Interest and Monetary Change on
      Liabilities</FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>12,123</FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>10,850</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.01.10</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Interest and Monetary Change in Assets</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-28,367</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-5,626</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.01.11</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Allowance for Doubtful Accounts</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>47,520</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>76,328</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.01.12</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Provision for Consent Decree (TAC)</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-43,148</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>23,986</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.01.13</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Equity in the Earnings (Losses) of
      Investees</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-999</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>319</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.01.14</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Provision for Sabesprev Mais</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,605</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,515</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.01.15</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other Provisions/Reversals</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-2,298</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>60,967</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.01.16</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Transfer of Funds to S&#227;o Paulo Municipal
      Government</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-3,808</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-18,051</FONT></P></TD></TR>
  <TR style="HEIGHT: 14pt">
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.01.17</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Gross Margin over Intangible Assets Resulting from
      Concession Contracts</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-31,627</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-25,287</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.25pt">
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.5pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.01.18</FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Pension Plan Liabilities</FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>164,130</FONT></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>144,647</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Changes in Assets and Liabilities</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-133,788</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-18,549</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.02.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Trade Accounts Receivable</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-18,269</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>262,977</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.02.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Balances and Related Party
Transactions</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>13,019</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>30,566</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.02.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Inventories</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>11,045</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-256</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.02.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Recoverable Taxes</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>36,437</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.02.05</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other Accounts Receivable</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-12,408</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-39,123</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.02.06</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Escrow Deposits</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>14,978</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>10,345</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.02.08</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Contractors and Suppliers</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-15,114</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-18,357</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.02.09</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Payroll, Provisions and Social
      Contribution</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>8,894</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7,843</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.02.10</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Pension Plan Liabilities</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-82,835</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-78,824</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.02.11</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Taxes and Contributions Payable</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>11,317</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-87,530</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.02.12</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Services Received</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-12,485</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>28,966</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.02.13</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other Liabilities</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-16,827</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-13,121</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.02.14</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Provisions</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-73,324</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-123,598</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.02.15</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Deferred COFINS/PASEP</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,784</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,563</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-406,763</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-695,322</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.03.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Interest Paid</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-389,020</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-307,106</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.01.03.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Income Tax and Social Contribution
Paid</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-17,743</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-388,216</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Net Cash from Investing Activities</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-1,209,437</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-1,192,404</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.02.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Acquisition of Property, Plant and Equipment
      </FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-14,784</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-52,135</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.02.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Acquisition of Intangible Assets</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-1,196,001</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-1,130,122</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.02.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Increase in Investments</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>243</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-17</FONT></P></TD></TR>
  <TR style="HEIGHT: 16.6pt">
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.02.04</FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Restricted Cash</FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-421</FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-10,130</FONT></P></TD></TR>
  <TR style="HEIGHT: 16.6pt">
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.02.05</FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 0.1in"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Dividends received</FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,526</FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD></TR>
  <TR>
    <TD width="100%" colSpan=4>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD></TR></TABLE></DIV></DIV><FONT style="LINE-HEIGHT: 200%" face=calibri,sans-serif></FONT>
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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 8 of 76</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_11></A>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="85%">
      <DIV>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt"><FONT color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>- 06/30/2015 - CIA
      SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>
    <TD width="15%">
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="MARGIN: 9.7pt 70.5pt 0pt 9.3pt; LINE-HEIGHT: 200%"><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=Calibri,sans-serif>&nbsp;</FONT><FONT style="LINE-HEIGHT: 200%" face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif>Parent Company&#8217;s Financial
Statements/Statement of Cash Flows &#8211; Indirect Method (R$
thousands)</FONT></B></FONT></P>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD colSpan=4>
      <DIV style="PADDING-BOTTOM: 0pt; PADDING-TOP: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt">&nbsp;</DIV></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="11%">
      <P style="MARGIN: 2.05pt 7.65pt 0pt 3.75pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Code</FONT></B></P></TD>
    <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="41%">
      <P style="MARGIN: 2.05pt 0in 0pt 2pt" align=left><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Description</FONT></B></P></TD>
    <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="27%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>YTD Current Year <BR>1/1/2015 to
      6/30/2015</FONT></B></P></TD>
    <TD style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="21%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>YTD Previous Year <BR>1/1/2014 to
      6/30/2014</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 15.3pt">
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="11%">
      <P style="MARGIN: 2.05pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.03</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="41%">
      <P style="MARGIN: 0in 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Net Cash from Financing Activities</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="27%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-645,684</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="21%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-43,799</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="11%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.03.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="41%">
      <P style="MARGIN: 0in 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Funding &#8211; Loans</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="27%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>388,012</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="21%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>795,911</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="11%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.03.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="41%">
      <P style="MARGIN: 0in 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Amortization of Loans</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="27%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-876,443</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="21%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-326,390</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="11%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.03.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="41%">
      <P style="MARGIN: 0in 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Payment of Interest on Shareholders&#8217;
      Equity</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="27%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-106,985</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="21%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-467,439</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="11%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.03.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="41%">
      <P style="MARGIN: 0in 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Public-Private Partnership (PPP)</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="27%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-11,333</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="21%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-9,921</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="11%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.03.05</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="41%">
      <P style="MARGIN: 0in 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Program Contract Commitments</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="27%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-38,935</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="21%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-35,960</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="11%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.05</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="41%">
      <P style="MARGIN: 0in 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Increase (Decrease) in Cash and Cash
      Equivalents</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="27%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-919,960</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="21%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>41,710</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="11%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.05.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="41%">
      <P style="MARGIN: 0in 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Opening Cash and Cash Equivalents</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="27%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,722,991</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="21%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,782,001</FONT></P></TD></TR>
  <TR style="HEIGHT: 16.6pt">
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="11%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.05.02</FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="41%">
      <P style="MARGIN: 0in 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Closing Cash and Cash Equivalents </FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="27%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>803,031</FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="21%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,823,711</FONT></P></TD></TR>
  <TR>
    <TD colSpan=4>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR></TABLE><FONT style="LINE-HEIGHT: 200%" face=arial,sans-serif></FONT>
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  <TR>
    <TD width="85%">
      <DIV>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt"><FONT color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>- 06/30/2015 - CIA
      SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>
    <TD width="15%">
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<H2 style="MARGIN: 9.7pt 240.5pt 0pt 9.3pt; LINE-HEIGHT: 200%"><B><FONT style="FONT-SIZE: 12pt" face=Arial,sans-serif>&nbsp;Parent Company&#8217;s Financial
Statements/Statement of Changes in Equity - 1/1/2015 to 6/30/2015 (R$
thousands)</FONT></B></H2>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=bottom width="100%" colSpan=8>
      <DIV style="PADDING-BOTTOM: 0pt; PADDING-TOP: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt">&nbsp;</DIV></TD></TR>
  <TR style="HEIGHT: 31.6pt">
    <TD style="HEIGHT: 31.6pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="10%">
      <P style="MARGIN: 1.95pt 5.85pt 0pt 3.75pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Code</FONT></B></P></TD>
    <TD style="HEIGHT: 31.6pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="30%">
      <P style="MARGIN: 1.95pt 0in 0pt 5.95pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Description</FONT></B></P></TD>
    <TD style="HEIGHT: 31.6pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.95pt 0.1in 0pt 76.2pt; TEXT-INDENT: -2.75pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
      <P style="TEXT-ALIGN: right; MARGIN: 1.95pt 0.1in 0pt 76.2pt; TEXT-INDENT: -2.75pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Paid-up
      Capital</FONT></B></P></TD>
    <TD style="HEIGHT: 31.6pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.95pt 0.1in 0pt 9.8pt; TEXT-INDENT: 4.25pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Capital
      Reserves, Options Granted and Treasury Shares</FONT></B></P></TD>
    <TD style="HEIGHT: 31.6pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.95pt 0.1in 0pt 14.85pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Profit
      Reserves</FONT></B></P></TD>
    <TD style="HEIGHT: 31.6pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 37.6pt; TEXT-INDENT: -11.65pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Retained
      Earnings/ Accumulated Losses</FONT></B></P></TD>
    <TD style="HEIGHT: 31.6pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 34.7pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Other
      Comprehensive Income</FONT></B></P></TD>
    <TD style="HEIGHT: 31.6pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.95pt 0.1in 0pt 14.3pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Total
      Equity</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 13.9pt">
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: justify; MARGIN: 1.9pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5.01</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="30%">
      <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Opening Balances</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 0.1in 0pt 84.35pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>10,000,000</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>3,694,151</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>-389,748</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>13,304,403</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: justify; MARGIN: 2.7pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="30%">
      <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Opening Balances</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 84.35pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>10,000,000</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>3,694,151</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>-389,748</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>13,304,403</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: justify; MARGIN: 1.45pt 0pt 0pt 3.15pt; TEXT-INDENT: -0.9pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="30%">
      <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Capital Transactions with Partners</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>-22,002</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>-22,002</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: justify; MARGIN: 1.45pt 0pt 0pt 3.15pt; TEXT-INDENT: -0.9pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5.04.08</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="30%">
      <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Additional Dividends Approved</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>-22,002</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>-22,002</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: justify; MARGIN: 2.7pt 0in 0pt 3pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5.05</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="30%">
      <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Total Comprehensive Income</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 54.35pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>655,493</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>655,493</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: justify; MARGIN: 2.7pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5.05.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="30%">
      <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Net Income for the Period</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 54.35pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>655,493</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>655,493</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.6pt">
    <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: justify; MARGIN: 2.7pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5.07</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="30%">
      <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Closing Balances</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 84.35pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>10,000,000</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>3,672,149</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 54.35pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>655,493</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>-389,748</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in; TEXT-INDENT: -4.85pt" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>13,937,894</FONT></P></TD></TR>
  <TR>
    <TD width="100%" colSpan=8>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD></TR></TABLE><FONT style="LINE-HEIGHT: 200%" face=arial,sans-serif></FONT>
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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 10 of 76</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_13></A>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="85%">
      <DIV>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt"><FONT color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>- 06/30/2015 - CIA
      SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>
    <TD width="15%">
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="MARGIN: 9.7pt 236pt 0pt 9.3pt; LINE-HEIGHT: 200%"><FONT style="LINE-HEIGHT: 200%" face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif>&nbsp;Parent Company&#8217;s Financial
Statements/Statement of Changes in Equity - 1/1/2014 to 6/30/2014 (R$
thousands)</FONT></B></FONT></P>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="100%" colSpan=8>
      <DIV style="PADDING-BOTTOM: 0pt; PADDING-TOP: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt">&nbsp;</DIV></TD></TR>
  <TR style="HEIGHT: 27.65pt">
    <TD style="HEIGHT: 27.65pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="10%">
      <P style="MARGIN: 1.95pt 5.85pt 0pt 3.75pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Code</FONT></B></P></TD>
    <TD style="HEIGHT: 27.65pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="30%">
      <P style="MARGIN: 1.95pt 0in 0pt 5.95pt"><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Description</FONT></B></P></TD>
    <TD style="HEIGHT: 27.65pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.95pt 0.1in 0pt 76.2pt; TEXT-INDENT: -2.75pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Paid-up
      Capital</FONT></B></P></TD>
    <TD style="HEIGHT: 27.65pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.95pt 0.1in 0pt 9.8pt; TEXT-INDENT: 4.25pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Capital
      Reserves, Options Granted and Treasury Shares</FONT></B></P></TD>
    <TD style="HEIGHT: 27.65pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.95pt 0.1in 0pt 14.85pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Profit
      Reserves</FONT></B></P></TD>
    <TD style="HEIGHT: 27.65pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 37.6pt; TEXT-INDENT: -16.15pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Retained
      Earnings/ Accumulated Losses</FONT></B></P></TD>
    <TD style="HEIGHT: 27.65pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 34.7pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Other
      Comprehensive Income</FONT></B></P></TD>
    <TD style="HEIGHT: 27.65pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.95pt 0.1in 0pt 14.3pt" align=right><B><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Total
      Equity</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 13.9pt">
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="MARGIN: 1.9pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5.01</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="30%">
      <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Opening Balances</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>6,203,688</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>124,255</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>6,736,389</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>-133,531</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>12,930,801</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="MARGIN: 2.7pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="30%">
      <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Opening Balances</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>6,203,688</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>124,255</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>6,736,389</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>-133,531</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>12,930,801</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="MARGIN: 1.45pt 0pt 0pt 3.15pt; TEXT-INDENT: -0.9pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="30%">
      <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Capital Transactions with Partners</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>-42,862</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>-42,862</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="MARGIN: 1.45pt 0pt 0pt 3.15pt; TEXT-INDENT: -0.9pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5.04.08</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="30%">
      <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Additional Dividends Approved</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>-42,862</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>-42,862</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="MARGIN: 2.7pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5.05</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="30%">
      <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Total Comprehensive Income</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>780,008</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>780,008</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="MARGIN: 2.7pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5.05.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="30%">
      <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Net Income for the Period</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>780,008</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>780,008</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="MARGIN: 1.45pt 0pt 0pt 3.15pt; TEXT-INDENT: -0.9pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5.06</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="30%">
      <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Internal Changes in the Shareholders&#8217;
      Equity</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>3,796,312</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>-124,255</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>-3,672,057</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="MARGIN: 1.45pt 0pt 0pt 3.15pt; TEXT-INDENT: -0.9pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5.06.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="30%">
      <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Capitalization of Reserves</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>3,796,312</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>-124,255</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>-3,672,057</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.6pt">
    <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="MARGIN: 2.7pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>5.07</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="30%">
      <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>Closing Balances</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.7pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>10,000,000</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>0</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>3,021,470</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>780,008</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>-133,531</FONT></P></TD>
    <TD style="HEIGHT: 15.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif>13,667,947</FONT></P></TD></TR>
  <TR>
    <TD width="100%" colSpan=8>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD></TR></TABLE><FONT style="LINE-HEIGHT: 200%" face=arial,sans-serif></FONT>
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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_14></A>
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  <TR>
    <TD width="85%">
      <DIV>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt"><FONT color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>- 06/30/2015 - CIA
      SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P></DIV></TD>
    <TD width="15%">
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<H2 style="MARGIN: 9.7pt 156pt 0pt 9.3pt; LINE-HEIGHT: 200%"><B><FONT style="FONT-SIZE: 12pt" face=Arial,sans-serif>&nbsp;Parent Company&#8217;s Financial
Statements/Statement of Value Added (R$ thousands)</FONT></B></H2>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="100%" colSpan=4>
      <DIV style="PADDING-BOTTOM: 0pt; PADDING-TOP: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt">&nbsp;</DIV></TD></TR>
  <TR style="HEIGHT: 34.55pt">
    <TD style="HEIGHT: 34.55pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="15%">
      <P style="MARGIN: 2.05pt 0in 0pt 2pt; TEXT-INDENT: 0in"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>PBRCode</FONT></B></P></TD>
    <TD style="HEIGHT: 34.55pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="49%">
      <P style="MARGIN: 2.05pt 0in 0pt 2pt; TEXT-INDENT: 0in"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Description</FONT></B></P></TD>
    <TD style="HEIGHT: 34.55pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0in 0pt 42.3pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 6.9pt 0pt 29.7pt; TEXT-INDENT: 24.75pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>YTD Current Year 1/1/2015 to
    6/30/2015</FONT></B></P></TD>
    <TD style="HEIGHT: 34.55pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0in 0pt 7pt" align=right><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 3.65pt 0pt 11.9pt; TEXT-INDENT: 18.25pt" align=right><B><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>YTD Previous Year 1/1/2014 to
      6/30/2014</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 15.3pt">
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 2.05pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.01</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Revenue</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>5,570,966</FONT></P></TD>
    <TD style="HEIGHT: 15.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>5,845,001</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.01.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Operating Revenue</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,051,734</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,668,448</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.01.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other Revenue</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>73,526</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>42,905</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.01.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Revenue from Construction of Own
Assets</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,493,226</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,209,976</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.01.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Allowance for/Reversal of Doubtful
      Accounts</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-47,520</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-76,328</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Inputs Acquired from Third Parties</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-2,438,564</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-2,566,871</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.02.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Costs of Sales and Services </FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-2,292,127</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-2,079,367</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.02.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Materials, Energy, Outsourced Services and
      Other</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-125,802</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-411,499</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.02.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-20,635</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-76,005</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Gross Value Added</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,132,402</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,278,130</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Retentions</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-537,395</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-482,852</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.04.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Depreciation, Amortization and
    Depletion</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-537,395</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-482,852</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.05</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Net Value Added Produced</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,595,007</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,795,278</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.06</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Value Added Received through Transfer</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>927,060</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>180,796</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.06.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Equity in the Earnings (Losses) of
      Investees</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>999</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-319</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.06.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Finance Income</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>229,778</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>181,115</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.06.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Other</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>696,283</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.06.03.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>GESP Reimbursement &#8211; Benefits Paid</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>696,283</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.07</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Total Value Added to Distribute</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,522,067</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,976,074</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.08</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Value Added Distribution</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,522,067</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,976,074</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.08.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Personnel</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>986,815</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>959,765</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.08.01.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Direct Compensation</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>643,849</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>631,107</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.08.01.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Benefits</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>276,472</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>254,575</FONT></P></TD></TR>
  <TR style="HEIGHT: 21.65pt">
    <TD style="HEIGHT: 21.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.08.01.03</FONT></P></TD>
    <TD style="HEIGHT: 21.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Government Severance Indemnity Fund for Employees
      (FGTS)</FONT></P></TD>
    <TD style="HEIGHT: 21.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>66,494</FONT></P></TD>
    <TD style="HEIGHT: 21.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>74,083</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.08.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Taxes and Contributions</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>630,092</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>948,275</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.08.02.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Federal</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>581,662</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>897,965</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.08.02.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>State</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>33,262</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>35,867</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.08.02.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Municipal</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>15,168</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>14,443</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.08.03</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Value Distributed to Providers of
    Capital</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,249,667</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>288,026</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.08.03.01</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Interest</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,208,167</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>249,891</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.08.03.02</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Rental</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>41,500</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>38,135</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.15pt">
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.08.04</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Value Distributed to Shareholders</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>655,493</FONT></P></TD>
    <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>780,008</FONT></P></TD></TR>
  <TR style="HEIGHT: 16.6pt">
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 1.4pt 0in 0pt 3.75pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>7.08.04.03</FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="49%">
      <P style="MARGIN: 0in 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Retained Earnings/Accumulated Loss for the
      Period</FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>655,493</FONT></P></TD>
    <TD style="HEIGHT: 16.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>780,008</FONT></P></TD></TR>
  <TR>
    <TD width="100%" colSpan=4>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD></TR></TABLE><FONT style="LINE-HEIGHT: 200%" face=arial,sans-serif></FONT>
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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 12 of 76</FONT></P>
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  <TR>
    <TD width="85%">
      <DIV>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt"><FONT color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>- 06/30/2015 - CIA
      SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt">&nbsp;</P>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 13.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif>Comments on the
      Company&#8217;s Performance</FONT></B></P></DIV></TD>
    <TD vAlign=top width="15%">
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>
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<DIV align=left><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=navy face=arial,sans-serif></FONT></B>&nbsp;</DIV></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=navy face=arial,sans-serif>1. Financial
highlights</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=arial,sans-serif></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11.8pt">
    <TD style="HEIGHT: 11.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="92%" colSpan=8>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%">
      <P style="MARGIN: 4.1pt 0in 0pt 1.5pt" align=right><B><I><FONT style="FONT-SIZE: 6.5pt" face=arial,sans-serif>R$</FONT></I></B><B><I><FONT style="FONT-SIZE: 6.5pt; LETTER-SPACING: 0.05pt" face=arial,sans-serif>
      </FONT></I></B><B><I><FONT style="FONT-SIZE: 6.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>million</FONT></I></B></P></TD></TR>
  <TR style="HEIGHT: 9.4pt">
    <TD style="HEIGHT: 9.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0in 0in 0pt"><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 9.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=center>
      <P style="MARGIN: 0.9pt 0in 0pt 10.9pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=#ffffff face=arial,sans-serif>2Q15</FONT></B></P></TD>
    <TD style="HEIGHT: 9.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=center>
      <P style="MARGIN: 0.9pt 0in 0pt 5.5pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=#ffffff face=arial,sans-serif>2Q14</FONT></B></P></TD>
    <TD style="HEIGHT: 9.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=center>
      <P style="MARGIN: 0.9pt 0in 0pt 1.75pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=#ffffff face=arial,sans-serif>Chg.
      </FONT></B><FONT style="FONT-SIZE: 8pt"></FONT><B><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.15pt" color=#ffffff face=arial,sans-serif>(R$)</FONT></B></P></TD>
    <TD style="HEIGHT: 9.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=center>
      <P style="MARGIN: 0.9pt 0in 0pt 9.55pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD>
    <TD style="HEIGHT: 9.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=center>
      <P style="MARGIN: 0.9pt 0in 0pt 6.05pt" align=center><B><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.15pt" color=#ffffff face=arial,sans-serif>1H15</FONT></B></P></TD>
    <TD style="HEIGHT: 9.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=center>
      <P style="MARGIN: 0.9pt 0in 0pt 6.05pt" align=center><B><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.15pt" color=#ffffff face=arial,sans-serif>1H14</FONT></B></P></TD>
    <TD style="HEIGHT: 9.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=center>
      <P style="MARGIN: 0.9pt 0in 0pt 1.5pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=#ffffff face=arial,sans-serif>Chg.
      </FONT></B><FONT style="FONT-SIZE: 8pt"></FONT><B><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.15pt" color=#ffffff face=arial,sans-serif>(R$)</FONT></B></P></TD>
    <TD style="HEIGHT: 9.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=center>
      <P style="MARGIN: 0.9pt 0in 0pt 0.75pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 9.35pt">
    <TD style="HEIGHT: 9.35pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.4pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(+) Gross operating</FONT><FONT style="FONT-SIZE: 8pt"><FONT style="LETTER-SPACING: -0.7pt" face=arial,sans-serif> </FONT><FONT style="LETTER-SPACING: -0.25pt" face=arial,sans-serif>revenue</FONT></FONT></P></TD>
    <TD style="HEIGHT: 9.35pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 9.8pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,047.2</FONT></P></TD>
    <TD style="HEIGHT: 9.35pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 4.45pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,224.0</FONT></P></TD>
    <TD style="HEIGHT: 9.35pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 10.9pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(176.8)</FONT></P></TD>
    <TD style="HEIGHT: 9.35pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 13.85pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(7.9)</FONT></P></TD>
    <TD style="HEIGHT: 9.35pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 4.45pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>4,051.7</FONT></P></TD>
    <TD style="HEIGHT: 9.35pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 4.45pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>4,668.4</FONT></P></TD>
    <TD style="HEIGHT: 9.35pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 11.15pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(616.7)</FONT></P></TD>
    <TD style="HEIGHT: 9.35pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 14.9pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(13.2)</FONT></P></TD></TR>
  <TR style="HEIGHT: 8.6pt">
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.4pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(+) Construction</FONT><FONT style="FONT-SIZE: 8pt"><FONT style="LETTER-SPACING: -0.35pt" face=arial,sans-serif> </FONT><FONT style="LETTER-SPACING: -0.25pt" face=arial,sans-serif>revenue</FONT></FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 15.7pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>904.8</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 10.35pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>678.7</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 13.05pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>226.1</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 12.2pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>33.3</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 4.45pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,493.2</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 4.45pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,210.0</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 13.3pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>283.2</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 17.05pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>23.4</FONT></P></TD></TR>
  <TR style="HEIGHT: 9.65pt">
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.95pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(-)
      </FONT><FONT style="FONT-SIZE: 8pt"><FONT style="LETTER-SPACING: -0.2pt" face=arial,sans-serif>COFINS </FONT><FONT face=arial,sans-serif>and
      </FONT><FONT style="LETTER-SPACING: 0.1pt" face=arial,sans-serif>PASEP</FONT><FONT style="LETTER-SPACING: 1.05pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>taxes</FONT></FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 15.7pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>129.1</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 10.35pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>148.6</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 14.65pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(19.5)</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 10.1pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(13.1)</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 10.35pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>253.4</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 10.35pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>332.3</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 14.9pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(78.9)</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 14.9pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(23.7)</FONT></P></TD></TR>
  <TR style="HEIGHT: 8.55pt">
    <TD style="HEIGHT: 8.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.35pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(=) </FONT><FONT style="FONT-SIZE: 8pt"><FONT style="LETTER-SPACING: -0.15pt" face=arial,sans-serif>Net </FONT><FONT face=arial,sans-serif>operating</FONT><FONT style="LETTER-SPACING: -0.35pt" face=arial,sans-serif> </FONT><FONT style="LETTER-SPACING: -0.25pt" face=arial,sans-serif>revenue</FONT></FONT></P></TD>
    <TD style="HEIGHT: 8.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.35pt 0in 0pt 9.8pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,822.9</FONT></P></TD>
    <TD style="HEIGHT: 8.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.35pt 0in 0pt 4.45pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,754.1</FONT></P></TD>
    <TD style="HEIGHT: 8.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.35pt 0in 0pt 16.8pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>68.8</FONT></P></TD>
    <TD style="HEIGHT: 8.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.35pt 0in 0pt 15.95pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2.5</FONT></P></TD>
    <TD style="HEIGHT: 8.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.35pt 0in 0pt 4.45pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>5,291.5</FONT></P></TD>
    <TD style="HEIGHT: 8.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.35pt 0in 0pt 4.45pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>5,546.1</FONT></P></TD>
    <TD style="HEIGHT: 8.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.35pt 0in 0pt 11.15pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(254.6)</FONT></P></TD>
    <TD style="HEIGHT: 8.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.35pt 0in 0pt 18.65pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(4.6)</FONT></P></TD></TR>
  <TR style="HEIGHT: 9.65pt">
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.9pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(-)
      </FONT><FONT style="FONT-SIZE: 8pt"><FONT face=arial,sans-serif>Costs
      and</FONT><FONT style="LETTER-SPACING: -0.1pt" face=arial,sans-serif>
      </FONT><FONT face=arial,sans-serif>expenses</FONT></FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 9.8pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,465.1</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 4.45pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,650.8</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 10.9pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(185.7)</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 10.1pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(11.2)</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 4.45pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,254.3</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 4.45pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>3,166.4</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 11.15pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(912.1)</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 14.9pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(28.8)</FONT></P></TD></TR>
  <TR style="HEIGHT: 8.6pt">
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.4pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(-)
      </FONT><FONT style="FONT-SIZE: 8pt"><FONT face=arial,sans-serif>Construction</FONT><FONT style="LETTER-SPACING: 0.3pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>costs</FONT></FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 15.7pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>885.2</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 10.35pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>664.2</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 13.05pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>221.0</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 12.2pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>33.3</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 4.45pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,461.6</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 4.45pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,184.7</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 13.3pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>276.9</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 17.05pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>23.4</FONT></P></TD></TR>
  <TR style="HEIGHT: 9.65pt">
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.95pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(+) Equity result</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 21.05pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(0.1)</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 3.8pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 18.4pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(0.1)</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 6.5pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 17.85pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1.0</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 15.7pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(0.3)</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 20.8pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1.3</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 11.15pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(433.3)</FONT></P></TD></TR>
  <TR style="HEIGHT: 8.6pt">
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.4pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(+)</FONT><FONT style="FONT-SIZE: 8pt"><FONT style="LETTER-SPACING: -0.8pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>Other</FONT><FONT style="LETTER-SPACING: -0.8pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>operating</FONT><FONT style="LETTER-SPACING: -0.8pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>revenue/expenses,</FONT><FONT style="LETTER-SPACING: -0.6pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>net</FONT></FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 19.45pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>11.7</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 17.85pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>5.2</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 20.55pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>6.5</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 8.5pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>125.0</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 14.1pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>43.8</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 11.95pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(37.8)</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 17.05pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>81.6</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 11.15pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(215.9)</FONT></P></TD></TR>
  <TR style="HEIGHT: 9.65pt">
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.9pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(=) Earnings </FONT><FONT style="FONT-SIZE: 8pt"><FONT style="LETTER-SPACING: -0.2pt" face=arial,sans-serif>before </FONT><FONT face=arial,sans-serif>financial
      result, income tax and social</FONT><FONT style="LETTER-SPACING: -0.45pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>contribution</FONT></FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 15.7pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>484.2</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 10.35pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>444.3</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 16.8pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>39.9</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 15.95pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>9.0</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 4.45pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,620.4</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 4.45pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,156.9</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 13.3pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>463.5</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 17.05pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>40.1</FONT></P></TD></TR>
  <TR style="HEIGHT: 8.55pt">
    <TD style="HEIGHT: 8.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.4pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(+) Financial</FONT><FONT style="FONT-SIZE: 8pt"><FONT style="LETTER-SPACING: -0.55pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>result</FONT></FONT></P></TD>
    <TD style="HEIGHT: 8.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 15.7pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>155.4</FONT></P></TD>
    <TD style="HEIGHT: 8.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 11.95pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(21.6)</FONT></P></TD>
    <TD style="HEIGHT: 8.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 13.05pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>177.0</FONT></P></TD>
    <TD style="HEIGHT: 8.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 6.35pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(819.4)</FONT></P></TD>
    <TD style="HEIGHT: 8.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 8.2pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(830.3)</FONT></P></TD>
    <TD style="HEIGHT: 8.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 17.85pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>5.9</FONT></P></TD>
    <TD style="HEIGHT: 8.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 11.15pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(836.2)</FONT></P></TD>
    <TD style="HEIGHT: 8.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 16.5pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>n.m.</FONT></P></TD></TR>
  <TR style="HEIGHT: 9.65pt">
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.95pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(=) Earnings </FONT><FONT style="FONT-SIZE: 8pt"><FONT style="LETTER-SPACING: -0.2pt" face=arial,sans-serif>before </FONT><FONT face=arial,sans-serif>income tax
      and social</FONT><FONT style="LETTER-SPACING: -0.05pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>contribution</FONT></FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 15.7pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>639.6</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 10.35pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>422.7</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 13.05pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>216.9</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 12.2pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>51.3</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 10.35pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>790.1</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 4.45pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,162.8</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 11.15pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(372.7)</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.95pt 0in 0pt 14.9pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(32.1)</FONT></P></TD></TR>
  <TR style="HEIGHT: 8.6pt">
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.4pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(-)
      </FONT><FONT style="FONT-SIZE: 8pt"><FONT face=arial,sans-serif>Income tax
      and social</FONT><FONT style="LETTER-SPACING: -0.25pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>contribution</FONT></FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 15.7pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>302.3</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 10.35pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>120.3</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 13.05pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>182.0</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 8.5pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>151.3</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 10.35pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>134.6</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 10.35pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>382.8</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 11.15pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(248.2)</FONT></P></TD>
    <TD style="HEIGHT: 8.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 14.9pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(64.8)</FONT></P></TD></TR>
  <TR style="HEIGHT: 9.65pt">
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.9pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>Net</FONT><FONT style="FONT-SIZE: 8pt"><FONT style="LETTER-SPACING: -0.05pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>Income</FONT></FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 15.7pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>337.3</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 10.35pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>302.4</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 16.8pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>34.9</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 12.2pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>11.5</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 10.35pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>655.5</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 10.35pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>780.0</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 11.15pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(124.5)</FONT></P></TD>
    <TD style="HEIGHT: 9.65pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.9pt 0in 0pt 14.9pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(16.0)</FONT></P></TD></TR>
  <TR style="HEIGHT: 8.85pt">
    <TD style="HEIGHT: 8.85pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.4pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>Earnings per share*</FONT><FONT style="FONT-SIZE: 8pt"><FONT style="LETTER-SPACING: -1pt" face=arial,sans-serif> </FONT><FONT style="LETTER-SPACING: -0.15pt" face=arial,sans-serif>(R$)</FONT></FONT></P></TD>
    <TD style="HEIGHT: 8.85pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 19.45pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>0.49</FONT></P></TD>
    <TD style="HEIGHT: 8.85pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 14.1pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>0.44</FONT></P></TD>
    <TD style="HEIGHT: 8.85pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 8.85pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 8.85pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 14.1pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>0.96</FONT></P></TD>
    <TD style="HEIGHT: 8.85pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0.4pt 0in 0pt 14.1pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1.14</FONT></P></TD>
    <TD style="HEIGHT: 8.85pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 8.85pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 13.45pt">
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.85pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>* Total </FONT><FONT style="FONT-SIZE: 8pt"><FONT style="LETTER-SPACING: 0.15pt" face=arial,sans-serif>shares </FONT><FONT face=arial,sans-serif>=</FONT><FONT style="LETTER-SPACING: -0.15pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>683,509,869</FONT></FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%">
      <P style="MARGIN: 0in 0in 0pt"><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%">
      <P style="MARGIN: 0in 0in 0pt"><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%">
      <P style="MARGIN: 0in 0in 0pt"><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%">
      <P style="MARGIN: 0in 0in 0pt"><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%">
      <P style="MARGIN: 0in 0in 0pt"><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%">
      <P style="MARGIN: 0in 0in 0pt"><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%">
      <P style="MARGIN: 0in 0in 0pt"><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.45pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%">
      <P style="MARGIN: 0in 0in 0pt"><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 6pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>
<H2 style="MARGIN: 3.7pt 0in 0pt 45pt"><B><FONT style="FONT-SIZE: 10pt" color=navy face=Arial,sans-serif>Adjusted EBITDA Reconciliation (Non-accounting
measures)</FONT></B></H2>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 11.8pt">
    <TD style="HEIGHT: 11.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="92%" colSpan=8>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 11.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%">
      <P style="MARGIN: 4.1pt 0in 0pt 1.5pt" align=right><B><I><FONT style="FONT-SIZE: 6.5pt" face=arial,sans-serif>R$</FONT></I></B><B><I><FONT style="FONT-SIZE: 6.5pt; LETTER-SPACING: 0.05pt" face=arial,sans-serif>
      </FONT></I></B><B><I><FONT style="FONT-SIZE: 6.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>million</FONT></I></B></P></TD></TR>
  <TR style="HEIGHT: 9.4pt">
    <TD style="HEIGHT: 9.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 9.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=center>
      <P style="MARGIN: 0.9pt 0in 0pt 10.9pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=#ffffff face=arial,sans-serif>2Q15</FONT></B></P></TD>
    <TD style="HEIGHT: 9.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=center>
      <P style="MARGIN: 0.9pt 0in 0pt 5.5pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=#ffffff face=arial,sans-serif>2Q14</FONT></B></P></TD>
    <TD style="HEIGHT: 9.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=center>
      <P style="MARGIN: 0.9pt 0in 0pt 1.75pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=#ffffff face=arial,sans-serif>Chg.
      </FONT></B><FONT style="FONT-SIZE: 8pt"></FONT><B><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.15pt" color=#ffffff face=arial,sans-serif>(R$)</FONT></B></P></TD>
    <TD style="HEIGHT: 9.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=center>
      <P style="MARGIN: 0.9pt 0in 0pt 9.55pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD>
    <TD style="HEIGHT: 9.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=center>
      <P style="MARGIN: 0.9pt 0in 0pt 6.05pt" align=center><B><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.15pt" color=#ffffff face=arial,sans-serif>1H15</FONT></B></P></TD>
    <TD style="HEIGHT: 9.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=center>
      <P style="MARGIN: 0.9pt 0in 0pt 6.05pt" align=center><B><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.15pt" color=#ffffff face=arial,sans-serif>1H14</FONT></B></P></TD>
    <TD style="HEIGHT: 9.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=center>
      <P style="MARGIN: 0.9pt 0in 0pt 1.5pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=#ffffff face=arial,sans-serif>Chg.
      </FONT></B><FONT style="FONT-SIZE: 8pt"></FONT><B><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.15pt" color=#ffffff face=arial,sans-serif>(R$)</FONT></B></P></TD>
    <TD style="HEIGHT: 9.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=center>
      <P style="MARGIN: 0.9pt 0in 0pt 0.75pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD></TR></TABLE>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 13.9pt">
    <TD style="HEIGHT: 13.9pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.65pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>Net</FONT><FONT style="FONT-SIZE: 8pt"><FONT style="LETTER-SPACING: 0.3pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>income</FONT></FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif>337.3</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>302.4</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>34.9</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>11.5</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>655.5</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>780.0</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(124.5)</FONT></P></TD>
    <TD style="HEIGHT: 13.9pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(16.0)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.4pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(-)
      </FONT><FONT style="FONT-SIZE: 8pt"><FONT face=arial,sans-serif>Income tax
      and social</FONT><FONT style="LETTER-SPACING: -0.4pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>contribution</FONT></FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif>302.3</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>120.3</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>182.0</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>151.3</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>134.6</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>382.8</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(248.2)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(64.8)</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.3pt">
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.9pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(+) Financial</FONT><FONT style="FONT-SIZE: 8pt"><FONT style="LETTER-SPACING: -0.6pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>result</FONT></FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(155.4)</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>21.6</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(177.0)</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(819.4)</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>830.3</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(5.9)</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>836.2</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>n.m.</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.4pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(+)</FONT><FONT style="FONT-SIZE: 8pt"><FONT style="LETTER-SPACING: -0.8pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>Other</FONT><FONT style="LETTER-SPACING: -0.8pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>operating</FONT><FONT style="LETTER-SPACING: -0.75pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>revenues/expenses,</FONT><FONT style="LETTER-SPACING: -0.55pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>net</FONT></FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif>(11.7)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(5.2)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(6.5)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>125.0</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(43.8)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>37.8</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(81.6)</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(215.9)</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.3pt">
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.9pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(=) Adjusted</FONT><FONT style="FONT-SIZE: 8pt"><FONT style="LETTER-SPACING: -0.1pt" face=arial,sans-serif> </FONT><FONT style="LETTER-SPACING: -0.15pt" face=arial,sans-serif>EBIT*</FONT></FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif>472.5</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>439.1</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>33.4</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>7.6</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,576.6</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,194.7</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>381.9</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>32.0</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.4pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(+)</FONT><FONT style="FONT-SIZE: 8pt"><FONT style="LETTER-SPACING: -0.55pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>Depreciation</FONT><FONT style="LETTER-SPACING: -0.55pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>and</FONT><FONT style="LETTER-SPACING: -0.55pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>amortization</FONT></FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif>284.1</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>222.6</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>61.5</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>27.6</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>537.4</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>482.9</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>54.5</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>11.3</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.3pt">
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.9pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(=) Adjusted </FONT><FONT style="FONT-SIZE: 8pt"><FONT style="LETTER-SPACING: -0.2pt" face=arial,sans-serif>EBITDA</FONT><FONT style="LETTER-SPACING: 0.35pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>**</FONT></FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif>756.6</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>661.7</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>94.9</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>14.3</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>2,114.0</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>1,677.6</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>436.4</FONT></P></TD>
    <TD style="HEIGHT: 14.3pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>26.0</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.1pt">
    <TD style="HEIGHT: 13.1pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="36%">
      <P style="MARGIN: 0.4pt 0in 0pt 1.05pt"><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>(%) Adjusted </FONT><FONT style="FONT-SIZE: 8pt"><FONT style="LETTER-SPACING: -0.2pt" face=arial,sans-serif>EBITDA</FONT><FONT style="LETTER-SPACING: -0.05pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>margin</FONT></FONT></P></TD>
    <TD style="HEIGHT: 13.1pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.05pt" face=arial,sans-serif>26.8</FONT></P></TD>
    <TD style="HEIGHT: 13.1pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>24.0</FONT></P></TD>
    <TD style="HEIGHT: 13.1pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.1pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.1pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>40.0</FONT></P></TD>
    <TD style="HEIGHT: 13.1pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=arial,sans-serif>30.2</FONT></P></TD>
    <TD style="HEIGHT: 13.1pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.1pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="8%" align=right>
      <P style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=right><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 6pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(*) Adjusted EBIT is net income before: (i) other
operating revenues/expenses; (ii) financial result; and (iii) income tax and
social contribution.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(**) Adjusted EBITDA is net income before: (i)
depreciation and amortization expenses; (ii) income tax and social contribution;
(iii) financial result; and (iv) other operating revenues/expenses,
net.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>In 2Q15, net operating
revenue, including construction revenue, reached R$ 2.8 billion; a
2.5%</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 2.1pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>increase compared to</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.35pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>2Q14.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Costs</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.7pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>and</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.65pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>expenses,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.8pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>including</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.65pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>construction</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.75pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>costs,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.05pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>totaled</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.65pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>R$</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.75pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>2.4</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.8pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>billion,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.85pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>up</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.7pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>by</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.65pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>1.5%</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.75pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>compared</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.75pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>to</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.85pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>R$</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.8pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>2.3</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.9pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>billion
recorded in</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.25pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>2Q14.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Adjusted EBIT, in the
amount of R$ 472.5 million, grew 7.6% from R$ 439.1 million recorded in the
same</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.55pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>quarter of the previous</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.45pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>year.
</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Adjusted</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.9pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>EBITDA,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.9pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>in</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.9pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.9pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>amount</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.9pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>of</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.9pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>R$</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.1pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>756.6</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.9pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>million,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.05pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>increased</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.95pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>14.3%</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.95pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>from</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>R$</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.95pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>661.7</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.9pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>million</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.95pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>recorded</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.95pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>in</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.95pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>2Q14 (R$
3,355.1 million in the last 12</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.6pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>months)</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>The adjusted EBITDA
margin was 26.8% in 2Q15, versus 24.0% in 2Q14 (30.6% in the last 12</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.5pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>months). Excluding construction revenues and construction
costs, the adjusted EBITDA margin was 38.4% in 2Q15</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.4pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(31.2% in
2Q14 and 42.4% in the last 12</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.7pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>months).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Net income totaled R$
337.3 million, 11.5% higher than R$ 302.4 million recorded in</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.95pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>2Q14.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=navy face=arial,sans-serif>2. Gross operating
revenue</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Gross operating revenue
from water and sewage, not including construction revenue, totaled R$ 2.0
billion, a drop of R$ 176.8 million or 7.9%, when compared to the R$ 2.2 billion
recorded in 2Q14. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>The main factors that
led to this variation</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.7pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>were:
</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt 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>Bonus
granted within the Water Consumption Reduction Incentive Program, with a R$
231.0 million impact</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.45pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>in 2Q15,
versus the R$ 88.1 million granted in 2Q14, leading to a decrease of 6.4% in
gross operating</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -1.1pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>revenue;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt 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>Decrease
of 7.5% in the Company&#8217;s total billed volume (8.3% in water and 6.3% in
sewage);</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.05pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>and</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt 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>Decrease
in the average billed price, due to the migration of clients to lower volume of
consumption</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.4pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>ranges.</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 5%"></P>
<DIV align=left>&nbsp;</DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>The decline in gross
operating revenue was mitigated by the application of contingency tariff, in the
amount of R$123.0 million, and by the application of the following
adjustments:</FONT></P>
<P style="MARGIN: 0.15pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt 0.25in; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>6.5%
repositioning tariff index since December 2014; and</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt 0.25in; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>15.2%
tariff increase (7.8% ordinary tariff adjustment and 6.9% Extraordinary Tariff
Revision) since June 2015, with a 1.5% impact in the quarter.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=navy face=arial,sans-serif>3. Construction
revenue</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Construction revenue increased R$ 226.1 million or 33.3%,
when compared to 2Q14. The variation was mainly due to higher investments in
2Q15. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><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; LINE-HEIGHT: 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=arial,sans-serif><BR></FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=navy face=arial,sans-serif>4. Billed volume</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><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 following tables
show the water and sewage billed volume, quarter-on-quarter and
semester-on-semester, per customer category and region.</FONT></P>
<DIV align=left>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>&nbsp;</TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>&nbsp;</TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>&nbsp;</TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>&nbsp;</TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>&nbsp;</TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>&nbsp;</TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>&nbsp;</TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>&nbsp;</TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>&nbsp;</TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #333399 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="100%" colSpan=10 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" 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>
  <TR>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><B><FONT color=#ffffff face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT color=#ffffff face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>Water</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT color=#ffffff face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT color=#ffffff face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>Sewage</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT color=#ffffff face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%" colSpan=2 noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>Water +
      Sewage</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT color=#ffffff face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>Category</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>2Q15</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>2Q14</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>2Q15</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>2Q14</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>2Q15</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>2Q14</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Residential</FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>358.0 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>382.0 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(6.3)</FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>301.3 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>319.2 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(5.6)</FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>659.3 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>701.2 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(6.0)</FONT></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Commercial</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>39.4 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>42.7 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(7.7)</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>37.5 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>40.3 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(6.9)</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>76.9 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>83.0 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(7.3)</FONT></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Industrial</FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>8.0 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>9.9 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(19.2)</FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>9.7 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>10.9 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(11.0)</FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>17.7 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>20.8 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(14.9)</FONT></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Public</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>10.7 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>13.3 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(19.5)</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>8.4 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>10.3 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(18.4)</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>19.1 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>23.6 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(19.1)</FONT></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Total
retail</FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>416.1 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>447.9 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(7.1)</FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>356.9 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>380.7 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(6.3)</FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>773.0 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>828.6 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(6.7)</FONT></B></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Wholesale</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>52.4 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>63.1 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(17.0)</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>5.9 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.6 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(10.6)</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>58.3 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>69.7 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(16.4)</FONT></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Total </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>468.5 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>511.0 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(8.3)</FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>362.8 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>387.3 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(6.3)</FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>831.3 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>898.3 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(7.5)</FONT></B></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><B><FONT color=#ffffff face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>1H15</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>1H14</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>1H15</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>1H14</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>1H15</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>1H14</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Residential</FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>727.0 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>792.6 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(8.3)</FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>609.9 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>659.5 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(7.5)</FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,336.9 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,452.1 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(7.9)</FONT></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Commercial</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>79.9 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>87.7 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(8.9)</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>75.6 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>82.3 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(8.1)</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>155.5 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>170.0 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(8.5)</FONT></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Industrial</FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>16.5 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>20.1 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(17.9)</FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>19.6 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>22.0 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(10.9)</FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>36.1 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>42.1 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(14.3)</FONT></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Public</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>21.2 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>27.1 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(21.8)</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>16.5 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>20.9 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(21.1)</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>37.7 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>48.0 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(21.5)</FONT></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Total
retail</FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>844.6 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>927.5 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(8.9)</FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>721.6 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>784.7 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(8.0)</FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,566.2 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,712.2 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(8.5)</FONT></B></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Wholesale</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>105.7 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>138.5 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(23.7)</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>12.4 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>13.1 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(5.3)</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>118.1 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>151.6 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(22.1)</FONT></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Total </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>950.3 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,066.0 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(10.9)</FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>734.0 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>797.8 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(8.0)</FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,684.3 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,863.8 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(9.6)</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap><FONT style="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap><FONT style="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap><FONT style="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap><FONT style="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap><FONT style="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap><FONT style="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap><FONT style="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap><FONT style="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap><FONT style="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
    <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap><FONT style="FONT-SIZE: 9pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #333399 1.5pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="100%" colSpan=10 noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" 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>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><B><FONT color=#ffffff face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>Water</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT color=#ffffff face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT color=#ffffff face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>Sewage</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT color=#ffffff face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT color=#ffffff face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%" colSpan=2 noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>Water +
      Sewage</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT color=#ffffff face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>
  <TR>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>Region</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>2Q15</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>2Q14</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>2Q15</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>2Q14</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>2Q15</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>2Q14</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=center>
      <P style="MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Metropolitan</FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>267.1 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>292.8 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(8.8)</FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>231.7 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>251.2 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(7.8)</FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>498.8 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>544.0 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(8.3)</FONT></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Regional<SUP>
      (2)</SUP></FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>149.0 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>155.1 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(3.9)</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>125.2 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>129.5 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(3.3)</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>274.2 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>284.6 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(3.7)</FONT></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Total
retail</FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>416.1 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>447.9 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(7.1)</FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>356.9 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>380.7 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(6.3)</FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>773.0 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>828.6 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(6.7)</FONT></B></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Wholesale</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>52.4 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>63.1 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(17.0)</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>5.9 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>6.6 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(10.6)</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>58.3 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>69.7 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(16.4)</FONT></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Total </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>468.5 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>511.0 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(8.3)</FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>362.8 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>387.3 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(6.3)</FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>831.3 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>898.3 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(7.5)</FONT></B></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><B><FONT color=#ffffff face=arial,sans-serif></FONT></B>&nbsp;</P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>1H15</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>1H14</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>1H15</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>1H14</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>1H15</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>1H14</FONT></B></P></TD>
    <TD style="BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Metropolitan</FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>535.0 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>601.9 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(11.1)</FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>462.6 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>514.1 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(10.0)</FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>997.6 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,116.0 </FONT></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(10.6)</FONT></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Regional<SUP>
      (2)</SUP></FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>309.6 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>325.6 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(4.9)</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>259.0 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>270.6 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(4.3)</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>568.6 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>596.2 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(4.6)</FONT></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Total
retail</FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>844.6 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>927.5 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(8.9)</FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>721.6 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>784.7 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(8.0)</FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,566.2 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,712.2 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(8.5)</FONT></B></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Wholesale</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>105.7 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>138.5 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(23.7)</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>12.4 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>13.1 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(5.3)</FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>118.1 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>151.6 </FONT></P></TD>
    <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(22.1)</FONT></P></TD></TR>
  <TR>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%" noWrap>
      <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Total </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>950.3 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,066.0 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(10.9)</FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>734.0 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>797.8 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(8.0)</FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,684.3 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,863.8 </FONT></B></P></TD>
    <TD style="BACKGROUND: #eeece1; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" noWrap align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(9.6)</FONT></B></P></TD></TR></TABLE></DIV></DIV>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.55pt 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;&nbsp; (1)
Unaudited</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.55pt 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 2pt" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.55pt 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>&nbsp;&nbsp; (2) Including coastal
and interior region</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.55pt 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt">&nbsp;</P><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 14 of 76</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_17></A>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="85%">
      <DIV>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt"><FONT color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>- 06/30/2015 - CIA
      SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt">&nbsp;</P>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 13.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif>Comments on the
      Company&#8217;s Performance</FONT></B></P></DIV></TD>
    <TD vAlign=top width="15%">
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT style="LINE-HEIGHT: 5%"></FONT>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.55pt 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.55pt 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 6pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=navy face=arial,sans-serif>5. Costs, administrative and selling
expenses</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>In 2Q15, costs,
administrative and selling expenses, grew 1.5% (R$ 35.3 million). Excluding
construction costs, total costs and expenses dropped 11.2%. As a percentage of
net revenue, cost and expenses were 84.1% in 2Q14 and 83.3% in 2Q15</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>. </FONT></P>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><I><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face=arial,sans-serif>R$</FONT></I></B><B><I><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LETTER-SPACING: 1.05pt" face=arial,sans-serif>
</FONT></I></B><B><I><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>million</FONT></I></B></P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=1 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.45pt">
    <TD style="HEIGHT: 10.45pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.45pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=center>
      <P style="MARGIN: 1.35pt 0in 0pt 7.7pt" align=center><B><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" color=#ffffff face=arial,sans-serif>2Q15</FONT></B></P></TD>
    <TD style="HEIGHT: 10.45pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=center>
      <P style="MARGIN: 1.35pt 0in 0pt 8.15pt" align=center><B><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" color=#ffffff face=arial,sans-serif>2Q14</FONT></B></P></TD>
    <TD style="HEIGHT: 10.45pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=center>
      <P style="MARGIN: 1.35pt 0in 0pt 2.4pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>Chg.</FONT></B><FONT style="FONT-SIZE: 9pt"><B><FONT style="LETTER-SPACING: -0.4pt" color=#ffffff face=arial,sans-serif>
      </FONT></B></FONT><B><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.2pt" color=#ffffff face=arial,sans-serif>(R$)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.45pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=center>
      <P style="MARGIN: 1.35pt 0in 0pt 8.8pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD>
    <TD style="HEIGHT: 10.45pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=center>
      <P style="MARGIN: 1.35pt 0in 0pt 6.9pt" align=center><B><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.2pt" color=#ffffff face=arial,sans-serif>1H15</FONT></B></P></TD>
    <TD style="HEIGHT: 10.45pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=center>
      <P style="MARGIN: 1.35pt 0in 0pt 6.85pt" align=center><B><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.2pt" color=#ffffff face=arial,sans-serif>1H14</FONT></B></P></TD>
    <TD style="HEIGHT: 10.45pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=center>
      <P style="MARGIN: 1.35pt 0in 0pt 2.4pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>Chg.</FONT></B><FONT style="FONT-SIZE: 9pt"><B><FONT style="LETTER-SPACING: -0.4pt" color=#ffffff face=arial,sans-serif>
      </FONT></B></FONT><B><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.2pt" color=#ffffff face=arial,sans-serif>(R$)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.45pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=center>
      <P style="MARGIN: 1.35pt 0in 0pt 8.8pt" align=center><B><FONT style="FONT-SIZE: 9pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.5pt">
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="28%">
      <P style="MARGIN: 0.75pt 0in 0pt 1.25pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Payroll </FONT><FONT style="FONT-SIZE: 9pt"><FONT style="LETTER-SPACING: -0.15pt" face=arial,sans-serif>and</FONT><FONT style="LETTER-SPACING: -0.7pt" face=arial,sans-serif> </FONT><FONT style="LETTER-SPACING: -0.15pt" face=arial,sans-serif>benefits</FONT></FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 12.2pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>528.8</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 12.6pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>551.4</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 17.65pt" align=right><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(22.6)</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 13.2pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(4.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 4.3pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,063.4</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 4.35pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,048.1</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 20.2pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>15.3</FONT></P></TD>
    <TD style="HEIGHT: 10.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 15.75pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.5</FONT></P></TD></TR>
  <TR style="HEIGHT: 9.55pt">
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="28%">
      <P style="MARGIN: 0.75pt 0in 0pt 1.25pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Supplies</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 16.65pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>43.1</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 17.05pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>46.9</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 22.1pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(3.8)</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 13.2pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(8.1)</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 15.75pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>91.7</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 15.75pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>94.1</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 22.1pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(2.4)</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 13.2pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(2.6)</FONT></P></TD></TR>
  <TR style="HEIGHT: 0.15in">
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="28%">
      <P style="MARGIN: 1.35pt 0in 0pt 1.25pt"><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>Treatment</FONT><FONT style="FONT-SIZE: 9pt"><FONT style="LETTER-SPACING: -0.8pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>supplies</FONT></FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 16.65pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>63.6</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 17.05pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>64.6</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 22.1pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(1.0)</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 13.2pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>(1.5)</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 11.35pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>135.9</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 11.3pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>134.3</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 24.65pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.6</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 15.75pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.2</FONT></P></TD></TR>
  <TR style="HEIGHT: 9.55pt">
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="28%">
      <P style="MARGIN: 0.75pt 0in 0pt 1.25pt"><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>Services</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 12.2pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>270.0</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 12.6pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>351.6</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 17.65pt" align=right><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(81.6)</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 8.8pt" align=right><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(23.2)</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 11.35pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>566.0</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 11.3pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>666.2</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 13.2pt" align=right><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(100.2)</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 8.8pt" align=right><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(15.0)</FONT></P></TD></TR>
  <TR style="HEIGHT: 0.15in">
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="28%">
      <P style="MARGIN: 1.35pt 0in 0pt 1.25pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Electric</FONT><FONT style="FONT-SIZE: 9pt"><FONT style="LETTER-SPACING: 0.05pt" face=arial,sans-serif> </FONT><FONT style="LETTER-SPACING: -0.2pt" face=arial,sans-serif>power</FONT></FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 12.2pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>208.3</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 12.6pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>144.5</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 20.2pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>63.8</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 11.3pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>44.2</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 11.35pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>367.4</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 11.3pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>284.5</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 20.2pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>82.9</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 11.3pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>29.1</FONT></P></TD></TR>
  <TR style="HEIGHT: 9.5pt">
    <TD style="HEIGHT: 9.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="28%">
      <P style="MARGIN: 0.75pt 0in 0pt 1.25pt"><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>General</FONT><FONT style="FONT-SIZE: 9pt"><FONT style="LETTER-SPACING: -1.05pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>expenses</FONT></FONT></P></TD>
    <TD style="HEIGHT: 9.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 16.65pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>48.7</FONT></P></TD>
    <TD style="HEIGHT: 9.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 12.6pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>190.0</FONT></P></TD>
    <TD style="HEIGHT: 9.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 13.2pt" align=right><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(141.3)</FONT></P></TD>
    <TD style="HEIGHT: 9.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 8.8pt" align=right><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(74.4)</FONT></P></TD>
    <TD style="HEIGHT: 9.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 11.35pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>103.1</FONT></P></TD>
    <TD style="HEIGHT: 9.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 11.3pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>342.7</FONT></P></TD>
    <TD style="HEIGHT: 9.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 13.2pt" align=right><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(239.6)</FONT></P></TD>
    <TD style="HEIGHT: 9.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 8.8pt" align=right><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(69.9)</FONT></P></TD></TR>
  <TR style="HEIGHT: 0.15in">
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="28%">
      <P style="MARGIN: 1.4pt 0in 0pt 1.25pt"><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.3pt" face=arial,sans-serif>Tax</FONT><FONT style="FONT-SIZE: 9pt"><FONT style="LETTER-SPACING: -0.75pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>expenses</FONT></FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.4pt 0in 0pt 16.65pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>18.3</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.4pt 0in 0pt 17.05pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>17.6</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.4pt 0in 0pt 24.65pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0.7</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.4pt 0in 0pt 15.75pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4.0</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.4pt 0in 0pt 15.75pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>38.2</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.4pt 0in 0pt 15.75pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>37.3</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.4pt 0in 0pt 24.65pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0.9</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.4pt 0in 0pt 15.75pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2.4</FONT></P></TD></TR>
  <TR style="HEIGHT: 9.55pt">
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="28%">
      <P style="MARGIN: 0.75pt 0in 0pt 1.25pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>S&#227;o Paulo state </FONT><FONT style="FONT-SIZE: 9pt"><FONT style="LETTER-SPACING: -0.25pt" face=arial,sans-serif>government</FONT><FONT style="LETTER-SPACING: -0.75pt" face=arial,sans-serif> </FONT><FONT style="LETTER-SPACING: -0.15pt" face=arial,sans-serif>reimbursement</FONT></FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 5.5pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 2.3pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 11.2pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 6.75pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 8.8pt" align=right><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(696.3)</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 2.3pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 13.2pt" align=right><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(696.3)</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 4.1pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>-</FONT></P></TD></TR>
  <TR style="HEIGHT: 0.15in">
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="28%">
      <P style="MARGIN: 1.35pt 0in 0pt 1.25pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Sub-total</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 5.2pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,180.8</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 5.6pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,366.6</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 13.2pt" align=right><B><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(185.8)</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 8.8pt" align=right><B><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(13.6)</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 4.3pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,669.4</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 4.35pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,607.2</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 13.2pt" align=right><B><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(937.8)</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 8.8pt" align=right><B><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(36.0)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 9.55pt">
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="28%">
      <P style="MARGIN: 0.75pt 0in 0pt 1.25pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Depreciation</FONT><FONT style="FONT-SIZE: 9pt"><FONT style="LETTER-SPACING: -1.4pt" face=arial,sans-serif> </FONT><FONT style="LETTER-SPACING: -0.15pt" face=arial,sans-serif>and</FONT><FONT style="LETTER-SPACING: -1.4pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>amortization</FONT></FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 12.2pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>284.1</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 12.6pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>222.6</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 20.2pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>61.5</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 11.3pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>27.6</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 11.35pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>537.4</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 11.3pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>482.9</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 20.2pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>54.5</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 11.3pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>11.3</FONT></P></TD></TR>
  <TR style="HEIGHT: 0.15in">
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="28%">
      <P style="MARGIN: 1.35pt 0in 0pt 1.25pt"><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>Credit</FONT><FONT style="FONT-SIZE: 9pt"><FONT style="LETTER-SPACING: 0.05pt" face=arial,sans-serif> </FONT><FONT style="LETTER-SPACING: -0.2pt" face=arial,sans-serif>write-offs</FONT></FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 21.05pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0.2</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 17.05pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>61.6</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 17.65pt" align=right><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(61.4)</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 8.8pt" align=right><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(99.7)</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 15.75pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>47.5</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 15.75pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>76.3</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 17.65pt" align=right><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(28.8)</FONT></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 8.8pt" align=right><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(37.7)</FONT></P></TD></TR>
  <TR style="HEIGHT: 9.5pt">
    <TD style="HEIGHT: 9.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="28%">
      <P style="MARGIN: 0.75pt 0in 0pt 1.25pt"><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Sub-total</FONT></B></P></TD>
    <TD style="HEIGHT: 9.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 12.2pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>284.3</FONT></B></P></TD>
    <TD style="HEIGHT: 9.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 12.6pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>284.2</FONT></B></P></TD>
    <TD style="HEIGHT: 9.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 24.65pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0.1</FONT></B></P></TD>
    <TD style="HEIGHT: 9.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 15.75pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>0.0</FONT></B></P></TD>
    <TD style="HEIGHT: 9.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 11.35pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>584.9</FONT></B></P></TD>
    <TD style="HEIGHT: 9.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 11.3pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>559.2</FONT></B></P></TD>
    <TD style="HEIGHT: 9.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 20.2pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>25.7</FONT></B></P></TD>
    <TD style="HEIGHT: 9.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 15.75pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4.6</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 0.15in">
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="28%">
      <P style="MARGIN: 1.4pt 0in 0pt 1.25pt"><B><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.3pt" face=arial,sans-serif>Costs
      </FONT></B><FONT style="FONT-SIZE: 9pt"><B><FONT style="LETTER-SPACING: 0.1pt" face=arial,sans-serif>and</FONT></B><B><FONT style="LETTER-SPACING: -0.8pt" face=arial,sans-serif>
      </FONT></B></FONT><B><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: 0.1pt" face=arial,sans-serif>expenses</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.4pt 0in 0pt 5.2pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,465.1</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.4pt 0in 0pt 5.6pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,650.8</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.4pt 0in 0pt 13.2pt" align=right><B><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(185.7)</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.4pt 0in 0pt 8.8pt" align=right><B><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(11.2)</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.4pt 0in 0pt 4.3pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,254.3</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.4pt 0in 0pt 4.35pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,166.4</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.4pt 0in 0pt 13.2pt" align=right><B><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(912.1)</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.4pt 0in 0pt 8.8pt" align=right><B><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(28.8)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 9.55pt">
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="28%">
      <P style="MARGIN: 0.75pt 0in 0pt 1.25pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Construction</FONT><FONT style="FONT-SIZE: 9pt"><FONT style="LETTER-SPACING: -0.9pt" face=arial,sans-serif> </FONT><FONT face=arial,sans-serif>costs</FONT></FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 12.2pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>885.2</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 12.6pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>664.2</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 15.75pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>221.0</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 11.3pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>33.3</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 4.3pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,461.6</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 4.35pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1,184.7</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 15.75pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>276.9</FONT></P></TD>
    <TD style="HEIGHT: 9.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 11.3pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>23.4</FONT></P></TD></TR>
  <TR style="HEIGHT: 0.15in">
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="28%">
      <P style="MARGIN: 1.35pt 0in 0pt 1.25pt"><B><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.4pt" face=arial,sans-serif>Costs, </FONT></B><FONT style="FONT-SIZE: 9pt"><B><FONT style="LETTER-SPACING: 0.15pt" face=arial,sans-serif>adm., </FONT></B><B><FONT face=arial,sans-serif>selling </FONT></B><B><FONT style="LETTER-SPACING: 0.1pt" face=arial,sans-serif>and
      </FONT></B><B><FONT style="LETTER-SPACING: -0.15pt" face=arial,sans-serif>construction</FONT></B><B><FONT style="LETTER-SPACING: 0.05pt" face=arial,sans-serif>
      </FONT></B></FONT><B><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: 0.1pt" face=arial,sans-serif>expenses</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 5.2pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,350.3</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 5.6pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>2,315.0</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 20.2pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>35.3</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 15.75pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>1.5</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 4.3pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>3,715.9</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 4.35pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>4,351.1</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 13.2pt" align=right><B><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(635.2)</FONT></B></P></TD>
    <TD style="HEIGHT: 0.15in; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 1.35pt 0in 0pt 8.8pt" align=right><B><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(14.6)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 9.85pt">
    <TD style="HEIGHT: 9.85pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="28%">
      <P style="MARGIN: 0.75pt 0in 0pt 1.25pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>% of </FONT><FONT style="FONT-SIZE: 9pt"><FONT style="LETTER-SPACING: -0.15pt" face=arial,sans-serif>net</FONT><FONT style="LETTER-SPACING: -0.35pt" face=arial,sans-serif> </FONT><FONT style="LETTER-SPACING: -0.3pt" face=arial,sans-serif>revenue</FONT></FONT></P></TD>
    <TD style="HEIGHT: 9.85pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 16.65pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>83.3</FONT></P></TD>
    <TD style="HEIGHT: 9.85pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 17.05pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>84.1</FONT></P></TD>
    <TD style="HEIGHT: 9.85pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 9.85pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 9.85pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 15.75pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>70.2</FONT></P></TD>
    <TD style="HEIGHT: 9.85pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0.75pt 0in 0pt 15.75pt" align=right><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>78.5</FONT></P></TD>
    <TD style="HEIGHT: 9.85pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 9.85pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="9%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><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></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>5.1. Payroll and
benefits</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black 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>In 2Q15 payroll and benefits
dropped R$ 22.6 million or 4.1%, due to the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.85pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>following</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>: </FONT></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="MARGIN: 3.1pt 46.15pt 0pt 0in; TEXT-INDENT: 0in"><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; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>R$ 15.9 million in
provisions for severance payments (TAC); and</FONT></P>
<P style="MARGIN: 3.1pt 46.15pt 0pt 0in; TEXT-INDENT: 0in"><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; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>R$ 10.7 million in
expenses related to the Profit Sharing Program, due to a higher reversion of
provision in 2Q15, as a result of achievements lower than the targets estimated
for the period.</FONT></P>
<P style="MARGIN: 3.1pt 46.15pt 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 3.1pt 46.15pt 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>The average wage increase of 6.8%,
since May 2014 and of 9.7% since May 2015 were offset by the 4.4%</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 2.45pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>drop in the number of employees, that reduced from 14,799
in 2Q14 to 14,147 this</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -1.35pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>quarter.</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></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>5.2.
Supplies</FONT></B></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; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>In 2Q15, expenses with
supplies decreased R$ 3.8 million or 8.1%, from R$ 46.9 million to R$ 43.1
million, mostly due to lower use of materials in preventive and corrective
maintenance in several water and sewage systems, thus, resulting in a reduction
of R$ 3.0 million.</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>5.3.
Services</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black 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" face=arial,sans-serif>Services expenses, in
the amount of R$ 270.0 million, dropped R$ 81.6 million or 23.2%, in comparison
to R$351.6 million in 2Q14. The main factors were:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 0.25in; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Advertising</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.2pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>campaigns,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.2pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>in</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.35pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.2pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>amount</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.2pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>of</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.3pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>R$</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.35pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>38.3</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.2pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>million,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.2pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>mainly</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.05pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>due</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.2pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>to</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.2pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.2pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>intensification</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.65pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>in</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.2pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>2Q14,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.2pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>for</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.35pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>the
rational use of</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.05pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>water;</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=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black 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>Estimate
of service expenses, totaling R$ 22.1 million, especially due to the lower
expense related</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.6pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>to
advertising campaigns in 2Q15;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>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=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black 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>Expenses
with risk contracts for credit recovery, in the amount of R$ 7.8</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.15pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>million.</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></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>5.4. Electric
power</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Electric power expenses totaled R$
208.3 million, an increase of R$ 63.8 million or 44.2% in comparison to the R$
144.5 million in 2Q14, chiefly due to the following.</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>Average
increase of 82.0% in the regulated market tariffs (ACR), with a 10.3% decrease
in consumption; 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" face=arial,sans-serif>Average
increase of 210.4% in the grid market tariffs</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(TUSD).</FONT></P>
<a name="_bclFooter17"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 5%"></P>
<DIV align=left>&nbsp;</DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV></DIV>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 15 of 76</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_18></A>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="85%">
      <DIV>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt"><FONT color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>- 06/30/2015 - CIA
      SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt">&nbsp;</P>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 13.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif>Comments on the
      Company&#8217;s Performance</FONT></B></P></DIV></TD>
    <TD vAlign=top width="15%">
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%"><FONT style="LINE-HEIGHT: 5%"></FONT>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>The regulated market (ACR)
accounts for 69.2% of the total electric power consumed by the Company, while
the grid market represents 11.5% of total consumption.</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><BR>5.5. General
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>General
expenses dropped R$ 141.3 million or 74.4%, totaling R$ 48.7 million, versus the
R$ 190.0 million recorded in 2Q14 mainly due to:</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$ 117.8
million decrease in the provision for lawsuits;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.3pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>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=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black 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>Lower
provision for the </FONT><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=arial,sans-serif>Municipal Fund for Environmental Sanitation and
Infrastructure</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>, in the amount of R$ 13.3 million, as a result of the
decrease in revenues with the municipality of S&#227;o</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.5pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Paulo.
</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>5.6. Depreciation and
amortization</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>R$ 61.5 million increase or 27.6%,
reaching R$ 284.1 million in comparison to the R$ 222.6 million recorded in
2Q14, mostly related to the addition intangible assets in operation.</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>5.7. Credit
write-offs</FONT></B></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>Credit</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.3pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>write-offs</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.15pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>decreased</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.05pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>R$</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.1pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>61.4</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>million,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.05pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>especially</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>due</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>to</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.15pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>higher</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.05pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>allowance</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.25pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>for</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.05pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>losses</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.25pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>occurred</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>in</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.15pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>2Q14,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.1pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>in
municipalities served with water on wholesale</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.65pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>basis.</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: 14pt" 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: 14pt" color=navy face=arial,sans-serif>6. Other operating
revenues and expenses, net</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>Other net operational
revenues and expenses reported an upturn of R$ 6.5 million, mainly due to the
gain from selling surplus energy in 2Q15, in the amount of R$ 9.7
million.</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></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 38.2pt">
    <TD style="HEIGHT: 38.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 3.25pt 0in 0pt 2pt"><B><FONT style="FONT-SIZE: 14pt" color=navy face=arial,sans-serif>7. Financial</FONT></B><B><FONT style="FONT-SIZE: 14pt; LETTER-SPACING: -0.3pt" color=navy face=arial,sans-serif> </FONT></B><B><FONT style="FONT-SIZE: 14pt" color=navy face=arial,sans-serif>result</FONT></B></P></TD>
    <TD style="HEIGHT: 38.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 38.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 38.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 38.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
      <P style="MARGIN: 6.75pt 0in 0pt 3.25pt" align=right><B><I><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>R$</FONT></I></B><B><I><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: 0.8pt" face=arial,sans-serif>
      </FONT></I></B><B><I><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.25pt" face=arial,sans-serif>million</FONT></I></B></P></TD></TR>
  <TR style="HEIGHT: 13.1pt">
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=center>
      <P style="MARGIN: 1.6pt 0in 0pt 11.7pt" align=center><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" color=#ffffff face=arial,sans-serif>2Q15</FONT></B></P></TD>
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=center>
      <P style="MARGIN: 1.6pt 0in 0pt 5.85pt" align=center><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" color=#ffffff face=arial,sans-serif>2Q14</FONT></B></P></TD>
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=center>
      <P style="MARGIN: 1.6pt 0in 0pt 7.35pt" align=center><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" color=#ffffff face=arial,sans-serif>Chg.</FONT></B></P></TD>
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=center>
      <P style="MARGIN: 1.6pt 0.55pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 9.5pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 13.1pt">
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 1.2pt 0in 0pt 4.2pt"><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>Financial expenses, </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>net
      </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>of</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1.6pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.35pt" face=arial,sans-serif>revenues</FONT></P></TD>
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.2pt 0in 0pt 18.45pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(64.5)</FONT></P></TD>
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.2pt 0in 0pt 12.6pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(74.4)</FONT></P></TD>
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.2pt 0in 0pt 23.1pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>9.9</FONT></P></TD>
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.2pt 0in 0pt 22pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(13.3)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 0.8pt 0in 0pt 4.2pt"><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.25pt" face=arial,sans-serif>Net </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>monetary </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>and
      </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>exchange</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.4pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.25pt" face=arial,sans-serif>variation</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.8pt 0in 0pt 16.2pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>219.9</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.8pt 0in 0pt 15.6pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>52.8</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.8pt 0in 0pt 12.6pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>167.1</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.8pt 0in 0pt 19.75pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>316.5</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.1pt">
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 1.55pt 0in 0pt 4.2pt"><B><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>Financial</FONT></B><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: 0.1pt" face=arial,sans-serif>
      </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>result</FONT></B></P></TD>
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.55pt 0in 0pt 16.2pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>155.4</FONT></B></P></TD>
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.55pt 0in 0pt 12.6pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(21.6)</FONT></B></P></TD>
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.55pt 0in 0pt 12.6pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>177.0</FONT></B></P></TD>
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.55pt 0in 0pt 16.7pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>(819.4)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 36.55pt">
    <TD style="HEIGHT: 36.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>
      <P style="MARGIN: 6.15pt 0in 0pt 2pt"><B><FONT style="FONT-SIZE: 10pt" color=navy face=arial,sans-serif>7.1. Financial revenues
      and</FONT></B><B><FONT style="FONT-SIZE: 10pt; LETTER-SPACING: -0.55pt" color=navy face=arial,sans-serif> </FONT></B><B><FONT style="FONT-SIZE: 10pt" color=navy face=arial,sans-serif>expenses</FONT></B></P></TD>
    <TD style="HEIGHT: 36.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 36.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 36.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 36.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 17.15pt">
    <TD style="HEIGHT: 17.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 17.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 17.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 17.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 17.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="MARGIN: 6.45pt 0in 0pt 3.25pt" align=right><B><I><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>R$</FONT></I></B><B><I><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: 0.4pt" face=arial,sans-serif>
      </FONT></I></B><B><I><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>million</FONT></I></B></P></TD></TR>
  <TR style="HEIGHT: 13.15pt">
    <TD style="HEIGHT: 13.15pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.15pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=center>
      <P style="MARGIN: 1.6pt 0in 0pt 11.7pt" align=center><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" color=#ffffff face=arial,sans-serif>2Q15</FONT></B></P></TD>
    <TD style="HEIGHT: 13.15pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=center>
      <P style="MARGIN: 1.6pt 0in 0pt 5.85pt" align=center><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" color=#ffffff face=arial,sans-serif>2Q14</FONT></B></P></TD>
    <TD style="HEIGHT: 13.15pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=center>
      <P style="MARGIN: 1.6pt 0in 0pt 7.35pt" align=center><B><FONT style="FONT-SIZE: 9.5pt" color=#ffffff face=arial,sans-serif>Chg.</FONT></B></P></TD>
    <TD style="HEIGHT: 13.15pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=center>
      <P style="MARGIN: 1.6pt 0.6pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 9.5pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 13.15pt">
    <TD style="HEIGHT: 13.15pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 1.2pt 0in 0pt 4.2pt"><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>Financial</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: 1.7pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>expenses</FONT></P></TD>
    <TD style="HEIGHT: 13.15pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.15pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.15pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.15pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 12.05pt">
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 0.85pt 0in 0pt 13.15pt"><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>Interest </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>and
      </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>charges on international loans </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>and</FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif> </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>financing</FONT></P></TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 18.45pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(25.1)</FONT></P></TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 12.6pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(23.1)</FONT></P></TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 20.1pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(2.0)</FONT></P></TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 30.25pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>8.7</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.55pt">
    <TD style="HEIGHT: 13.55pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 1.6pt 0in 0pt 13.15pt"><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>Interest </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>and
      </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>charges on </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>domestic </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>loans </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>and</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.3pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>financing</FONT></P></TD>
    <TD style="HEIGHT: 13.55pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 18.45pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(81.0)</FONT></P></TD>
    <TD style="HEIGHT: 13.55pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 12.6pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(79.9)</FONT></P></TD>
    <TD style="HEIGHT: 13.55pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 20.1pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(1.1)</FONT></P></TD>
    <TD style="HEIGHT: 13.55pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 30.25pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>1.4</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.05pt">
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 0.85pt 0in 0pt 13.15pt"><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>Other</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1.3pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>financial</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1.1pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>expenses</FONT></P></TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 18.45pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(48.9)</FONT></P></TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 12.6pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(45.3)</FONT></P></TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 20.1pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(3.6)</FONT></P></TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 30.25pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>7.9</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.5pt">
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 1.6pt 0in 0pt 4.2pt"><B><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>Total financial</FONT></B><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: 1.1pt" face=arial,sans-serif>
      </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>expenses</FONT></B></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 13.2pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>(155.0)</FONT></B></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 7.35pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>(148.3)</FONT></B></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 20.1pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(6.7)</FONT></B></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 30.25pt" align=right><B><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>4.5</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.05pt">
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 0.85pt 0in 0pt 4.2pt"><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>Financial</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1.65pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.35pt" face=arial,sans-serif>revenues</FONT></P></TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 21.45pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>90.5</FONT></P></TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 15.6pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>73.9</FONT></P></TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 17.85pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>16.6</FONT></P></TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 25pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>22.5</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.15pt">
    <TD style="HEIGHT: 13.15pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 1.6pt 0in 0pt 4.2pt"><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: 0.1pt" face=arial,sans-serif>Financial </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>expenses
      </FONT></B><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: 0.15pt" face=arial,sans-serif>net </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>of</FONT></B><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1.7pt" face=arial,sans-serif>
      </FONT></B><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: 0.1pt" face=arial,sans-serif>revenues</FONT></B></P></TD>
    <TD style="HEIGHT: 13.15pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 18.45pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(64.5)</FONT></B></P></TD>
    <TD style="HEIGHT: 13.15pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 12.6pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(74.4)</FONT></B></P></TD>
    <TD style="HEIGHT: 13.15pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 23.1pt" align=right><B><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>9.9</FONT></B></P></TD>
    <TD style="HEIGHT: 13.15pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 22pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(13.3)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 51.05pt">
    <TD style="HEIGHT: 51.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 0.25pt 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>
      <P style="MARGIN: 0in 0in 0pt 2pt"><B><FONT style="FONT-SIZE: 10pt" color=navy face=arial,sans-serif>7.1.1. Financial</FONT></B><B><FONT style="FONT-SIZE: 10pt; LETTER-SPACING: -0.4pt" color=navy face=arial,sans-serif> </FONT></B><B><FONT style="FONT-SIZE: 10pt" color=navy face=arial,sans-serif>expenses</FONT></B></P>
      <P style="MARGIN: 0.05pt 0in 0pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P>
      <P style="MARGIN: 0in 0in 0pt 2pt"><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>Financial expenses grew R$ 6.7 million. The main
      reasons</FONT><FONT style="FONT-SIZE: 10pt; LETTER-SPACING: -0.6pt" face=arial,sans-serif> </FONT><FONT style="FONT-SIZE: 10pt" face=arial,sans-serif>were:</FONT></P></TD>
    <TD style="HEIGHT: 51.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 51.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 51.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 51.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; LINE-HEIGHT: 12pt"><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" face=arial,sans-serif>R$</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.8pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>3.3</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.8pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>million</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.8pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>upturn</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.8pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>in</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.8pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>other</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.85pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>financial</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.75pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>expenses,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.8pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>mainly</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.6pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>due</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.75pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>to</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.1pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.8pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>increased</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.85pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>recognition</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.75pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>of</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>interest</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.8pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>arising
from the startup of a sewage treatment station, financed through leasing;
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" face=arial,sans-serif>R$ 2.0
million increase in interest and charges on international loans and financing,
especially due to the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.15pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>total debt
increase, resulting from new</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>funding</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>.</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">&nbsp;</P><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 16 of 76</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_19></A>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="85%">
      <DIV>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt"><FONT color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>- 06/30/2015 - CIA
      SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt">&nbsp;</P>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 13.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif>Comments on the
      Company&#8217;s Performance</FONT></B></P></DIV></TD>
    <TD vAlign=top width="15%">
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader19"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 5%"></P>
<DIV align=left>&nbsp;</DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>
<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"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Financial revenues increased R$
16.6 million, due to interest mainly over instalment agreement in
2Q15.</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></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 39.65pt">
    <TD style="HEIGHT: 39.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 3.7pt 0in 0pt 2.75pt"><B><FONT style="FONT-SIZE: 10pt" color=navy face=arial,sans-serif>7.2. Monetary and exchange rate variation
      on assets and</FONT></B><B><FONT style="FONT-SIZE: 10pt; LETTER-SPACING: -1pt" color=navy face=arial,sans-serif> </FONT></B><B><FONT style="FONT-SIZE: 10pt" color=navy face=arial,sans-serif>liabilities</FONT></B></P></TD>
    <TD style="HEIGHT: 39.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 39.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 39.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 39.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT>&nbsp;</P>
      <P style="MARGIN: 0.2pt 0in 0pt"><FONT style="FONT-SIZE: 7pt" face=arial,sans-serif></FONT>&nbsp;</P>
      <P style="MARGIN: 0in 0in 0pt 3.25pt" align=right><B><I><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>R$</FONT></I></B><B><I><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: 0.45pt" face=arial,sans-serif>
      </FONT></I></B><B><I><FONT style="FONT-SIZE: 9pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>million</FONT></I></B></P></TD></TR>
  <TR style="HEIGHT: 13.1pt">
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=center>
      <P style="MARGIN: 1.55pt 0in 0pt 2.8pt" align=center><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" color=#ffffff face=arial,sans-serif>2Q15</FONT></B></P></TD>
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=center>
      <P style="MARGIN: 1.55pt 0in 0pt 5.85pt" align=center><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" color=#ffffff face=arial,sans-serif>2Q14</FONT></B></P></TD>
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=center>
      <P style="MARGIN: 1.55pt 0in 0pt 7.35pt" align=center><B><FONT style="FONT-SIZE: 9.5pt" color=#ffffff face=arial,sans-serif>Chg.</FONT></B></P></TD>
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=center>
      <P style="MARGIN: 1.55pt 0.6pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 9.5pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 13.1pt">
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 1.2pt 0in 0pt 14.7pt"><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>Currency </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>exchange </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.25pt" face=arial,sans-serif>variation </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>on
      loans </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>and</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1.6pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>financing</FONT></P></TD>
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.2pt 0in 0pt 7.3pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>208.9</FONT></P></TD>
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.2pt 0in 0pt 15.6pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>84.2</FONT></P></TD>
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.2pt 0in 0pt 12.6pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>124.7</FONT></P></TD>
    <TD style="HEIGHT: 13.1pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.2pt 0in 0pt 19.75pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>148.1</FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 0.8pt 0in 0pt 14.7pt"><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>Monetary </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.25pt" face=arial,sans-serif>variation </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>on
      loans </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>and</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.25pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>financing</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.8pt 0in 0pt 9.55pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(41.6)</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.8pt 0in 0pt 12.65pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(28.9)</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.8pt 0in 0pt 14.85pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(12.7)</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.8pt 0in 0pt 25pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>43.9</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.5pt">
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 1.55pt 0in 0pt 14.7pt"><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>Other </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>monetary</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1.25pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.25pt" face=arial,sans-serif>variations</FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.55pt 0in 0pt 12.55pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>17.8</FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.55pt 0in 0pt 12.65pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(13.1)</FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.55pt 0in 0pt 17.85pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>30.9</FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.55pt 0in 0pt 16.7pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>(235.9)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 0.8pt 0in 0pt 14.7pt"><B><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>Monetary/exchange rate variation
      on</FONT></B><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: 1.65pt" face=arial,sans-serif> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: 0.15pt" face=arial,sans-serif>liabilities</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.8pt 0in 0pt 7.3pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>185.1</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.8pt 0in 0pt 15.6pt" align=right><B><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>42.2</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.8pt 0in 0pt 12.6pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>142.9</FONT></B></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.8pt 0in 0pt 19.75pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>338.6</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 13.45pt">
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 1.55pt 0in 0pt 14.7pt"><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>Monetary/exchange</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>rate</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.25pt" face=arial,sans-serif>variation</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>on</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>assets</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.55pt 0in 0pt 12.55pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>34.8</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.55pt 0in 0pt 15.6pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>10.6</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.55pt 0in 0pt 17.85pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>24.2</FONT></P></TD>
    <TD style="HEIGHT: 13.45pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 1.55pt 0in 0pt 19.75pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>228.3</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.35pt">
    <TD style="HEIGHT: 12.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="52%">
      <P style="MARGIN: 0.8pt 0in 0pt 14.7pt"><B><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>Monetary/exchange rate variation,</FONT></B><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: 1.85pt" face=arial,sans-serif>
      </FONT></B><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: 0.15pt" face=arial,sans-serif>net</FONT></B></P></TD>
    <TD style="HEIGHT: 12.35pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.8pt 0in 0pt 7.3pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>219.9</FONT></B></P></TD>
    <TD style="HEIGHT: 12.35pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.8pt 0in 0pt 15.6pt" align=right><B><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>52.8</FONT></B></P></TD>
    <TD style="HEIGHT: 12.35pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.8pt 0in 0pt 12.6pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>167.1</FONT></B></P></TD>
    <TD style="HEIGHT: 12.35pt; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0.8pt 0in 0pt 19.75pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>316.5</FONT></B></P></TD></TR></TABLE></DIV>
<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></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/exchange rate variation on liabilities</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" color=black face=arial,sans-serif>The effect on the
monetary/currency exchange variation on liabilities in 2Q15 was R$ 142.9
million, higher than in 2Q14, especially due to:</FONT></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 6pt 0.25in; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black 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>An</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.25pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>increase</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.25pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>of</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.35pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>R$</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.35pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>124.7</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.3pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>million</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.25pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>in</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.25pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>expenses</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.4pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>with</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.35pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>exchange</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.3pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>rate</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.25pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>change</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.25pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>on</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.25pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>loans</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.3pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>and</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.35pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>financing,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.25pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>due</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.25pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>to</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.35pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>a
higher</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 2.55pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>depreciation</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 2.45pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>of</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 2.55pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 2.5pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>US</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 2.4pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>dollar</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 2.5pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>and</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 2.45pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 2.55pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Yen</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 2.55pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>versus</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 2.5pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 2.55pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Brazilian</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 2.4pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Real</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 2.5pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>in</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 2.45pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>2Q15</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 2.45pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>(3.3%</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 2.5pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>and</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 2.45pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>5.0%,
respectively), when compared to the depreciation recorded in 2Q14 (2.7% and
1.0%,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.65pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>respectively); </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=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black 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$ 30.9
million decrease in other monetary variation expenses, chiefly due to the
reversion of R$ 25.6 million regarding provision for lawsuits in
2T15;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>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=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black 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>An upturn
of R$ 12.7 million in expenses with monetary variation on loans and financing,
due to the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.8pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>increase in the IPCA in 2Q15 compared to 2Q14 (2.26% and
1.54%,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.4pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>respectively).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 0.25in; LINE-HEIGHT: 12pt"><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"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=arial,sans-serif>7.2.2.
Monetary/Exchange rate variation on assets</FONT></B></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></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>R$ 24.2 million
increase, mainly due to the monetary updates on judicial</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -1.05pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>deposits</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>.</FONT></P>
<P style="MARGIN: 0in 0in 6pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 6pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 6pt"><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 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Recorded an R$ 182.0
million upturn, due to the increase in taxable income in 2Q15 and to the impacts
of deferred income tax and social contribution, versus 2Q14.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=navy face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=navy face=arial,sans-serif></FONT></B>&nbsp;</P>
<a name="_bclFooter19"></a><DIV>
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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 17 of 76</FONT></P>
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  <TR>
    <TD width="85%">
      <DIV>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt"><FONT color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>- 06/30/2015 - CIA
      SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt">&nbsp;</P>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 13.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif>Comments on the
      Company&#8217;s Performance</FONT></B></P></DIV></TD>
    <TD vAlign=top width="15%">
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<a name="_bclHeader20"></a><DIV>
<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 5%"></P>
<DIV align=left>&nbsp;</DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=navy face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=navy face=arial,sans-serif>9. Indicators</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 4pt" color=black face=arial,sans-serif><BR><BR></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>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="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>As a result
of the water crisis, there was a substantial reduction in the water production
volume, down by 14.6% in the quarter and 18.1% in the semester.</FONT></P>
<P style="BACKGROUND: white; 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="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>There was
also a substantial decline in the index that measures water losses per
connection per day (IPDT) which came to 272 liters/connection x day versus 356
liters/connection x day on the same period last year.</FONT></P>
<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif><BR>This
reduction was the result not only of loss control initiatives, but also of the
water crisis and the consequent need to reduce the network pressure as a demand
management mechanism.</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: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=1 cellPadding=0 border=0>

  <TR style="HEIGHT: 15.4pt">
    <TD style="HEIGHT: 15.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="55%">
      <P style="MARGIN: 0.75pt 0in 0pt 1.45pt"><B><FONT style="FONT-SIZE: 9.5pt" color=white face=arial,sans-serif>Operating indicators</FONT></B><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: 1.15pt" color=white face=arial,sans-serif> </FONT></B><B><FONT style="FONT-SIZE: 12pt" color=white face=arial,sans-serif>*</FONT></B></P></TD>
    <TD style="HEIGHT: 15.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=center>
      <P style="MARGIN: 2.35pt 0in 0pt 62.35pt" align=center><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" color=#ffffff face=arial,sans-serif>2Q15</FONT></B></P></TD>
    <TD style="HEIGHT: 15.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=center>
      <P style="MARGIN: 2.35pt 0in 0pt 23.1pt" align=center><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" color=#ffffff face=arial,sans-serif>2Q14</FONT></B></P></TD>
    <TD style="HEIGHT: 15.4pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=center>
      <P style="MARGIN: 2.35pt 0in 0pt 10.35pt" align=center><B><FONT style="FONT-SIZE: 9.5pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12.4pt">
    <TD style="HEIGHT: 12.4pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="55%">
      <P style="MARGIN: 0.85pt 0in 0pt 4.45pt"><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>Water connections</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.85pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: 0.1pt" face=arial,sans-serif>(</FONT><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: 0.1pt" face=Calibri,sans-serif>1</FONT><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: 0.1pt" face=arial,sans-serif>)</FONT></P></TD>
    <TD style="HEIGHT: 12.4pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 58.6pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>8,310</FONT></P></TD>
    <TD style="HEIGHT: 12.4pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 19.35pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>8,100</FONT></P></TD>
    <TD style="HEIGHT: 12.4pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 14.85pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>2.6</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.25pt">
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="55%">
      <P style="MARGIN: 0.85pt 0in 0pt 4.45pt"><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>Sewage </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>connections</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1.8pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: 0.1pt" face=arial,sans-serif>(</FONT><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: 0.1pt" face=Calibri,sans-serif>1</FONT><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: 0.1pt" face=arial,sans-serif>)</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 58.6pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>6,753</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 19.35pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>6,542</FONT></P></TD>
    <TD style="HEIGHT: 11.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 14.85pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>3.2</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.8pt">
    <TD style="HEIGHT: 12.8pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="55%">
      <P style="MARGIN: 1.6pt 0in 0pt 4.45pt"><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>Population directly </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.3pt" face=arial,sans-serif>served </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>- </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>water</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1.7pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: 0.1pt" face=arial,sans-serif>(</FONT><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: 0.1pt" face=Calibri,sans-serif>2</FONT><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: 0.1pt" face=arial,sans-serif>)</FONT></P></TD>
    <TD style="HEIGHT: 12.8pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 63.8pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>25.4</FONT></P></TD>
    <TD style="HEIGHT: 12.8pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 24.6pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>25.1</FONT></P></TD>
    <TD style="HEIGHT: 12.8pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 14.85pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>1.2</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.3pt">
    <TD style="HEIGHT: 11.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="55%">
      <P style="MARGIN: 0.85pt 0in 0pt 4.45pt"><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>Population directly </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.3pt" face=arial,sans-serif>served </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>- </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>sewage</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1.85pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: 0.1pt" face=arial,sans-serif>(</FONT><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: 0.1pt" face=Calibri,sans-serif>2</FONT><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: 0.1pt" face=arial,sans-serif>)</FONT></P></TD>
    <TD style="HEIGHT: 11.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 63.8pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>22.6</FONT></P></TD>
    <TD style="HEIGHT: 11.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 24.6pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>22.1</FONT></P></TD>
    <TD style="HEIGHT: 11.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 14.85pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>2.3</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.8pt">
    <TD style="HEIGHT: 12.8pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="55%">
      <P style="MARGIN: 1.6pt 0in 0pt 4.45pt"><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>Number</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1.3pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>of</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1.4pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>employees</FONT></P></TD>
    <TD style="HEIGHT: 12.8pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 53.35pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif>14,147</FONT></P></TD>
    <TD style="HEIGHT: 12.8pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 14.15pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif>14,799</FONT></P></TD>
    <TD style="HEIGHT: 12.8pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 11.85pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>(4.4)</FONT></P></TD></TR>
  <TR style="HEIGHT: 11.3pt">
    <TD style="HEIGHT: 11.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="55%">
      <P style="MARGIN: 0.85pt 0in 0pt 4.45pt"><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>Water </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.3pt" face=arial,sans-serif>volume </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>produced </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>- </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>quarter</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1.15pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: 0.1pt" face=arial,sans-serif>(</FONT><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: 0.1pt" face=Calibri,sans-serif>3</FONT><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: 0.1pt" face=arial,sans-serif>)</FONT></P></TD>
    <TD style="HEIGHT: 11.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 0.85pt 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>606</FONT></P></TD>
    <TD style="HEIGHT: 11.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 27.6pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>710</FONT></P></TD>
    <TD style="HEIGHT: 11.3pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 6.65pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(14.6)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.8pt">
    <TD style="HEIGHT: 12.8pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="55%">
      <P style="MARGIN: 1.6pt 0in 0pt 1.45pt"><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>Water </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.3pt" face=arial,sans-serif>volume </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>produced </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>- semester</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1.15pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: 0.1pt" face=arial,sans-serif>(</FONT><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: 0.1pt" face=Calibri,sans-serif>3</FONT><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: 0.1pt" face=arial,sans-serif>)</FONT></P></TD>
    <TD style="HEIGHT: 12.8pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 58.6pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>1,219</FONT></P></TD>
    <TD style="HEIGHT: 12.8pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 19.35pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>1,488</FONT></P></TD>
    <TD style="HEIGHT: 12.8pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 1.6pt 0in 0pt 6.65pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(18.1)</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.05pt">
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="55%">
      <P style="MARGIN: 0.85pt 0in 0pt 4.45pt"><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>IPM </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>- </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>Measured water </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>loss</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.4pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>(%)</FONT></P></TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 63.8pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>28.5</FONT></P></TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 24.6pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>30.8</FONT></P></TD>
    <TD style="HEIGHT: 12.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 0.85pt 0in 0pt 11.85pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>(7.5)</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.5pt">
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="55%">
      <P style="MARGIN: 2.35pt 0in 0pt 4.45pt"><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>IPDt </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>(liters/connection x</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1.15pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>day)</FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 2.35pt 0pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>272</FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 2.35pt 0in 0pt 27.6pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>356</FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 2.35pt 0in 0pt 6.65pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(23.6)</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><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 49.65pt; TEXT-INDENT: -7.1pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-TRANSFORM: uppercase" face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; TEXT-TRANSFORM: uppercase" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Total
connections, active and inactive, in thousand units at the end of the
period</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt; TEXT-INDENT: -7.1pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-TRANSFORM: uppercase" face=arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; TEXT-TRANSFORM: uppercase" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>In million
inhabitants, at the end of the period. Not including wholesale</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt; TEXT-INDENT: -7.1pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-TRANSFORM: uppercase" face=arial,sans-serif>(3)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; TEXT-TRANSFORM: uppercase" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>In millions
of cubic meters </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt; TEXT-INDENT: -7.1pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-TRANSFORM: uppercase" face=arial,sans-serif>(*)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Unaudited</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"><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-TRANSFORM: uppercase" face=arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 27.6pt">
    <TD style="HEIGHT: 27.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="100%" colSpan=3>
      <P style="MARGIN: 3.7pt 0in 0pt 2.75pt"><B><FONT style="FONT-SIZE: 10pt" color=#000080 face=arial,sans-serif>9.2.</FONT></B><B><FONT style="FONT-SIZE: 10pt; LETTER-SPACING: -0.3pt" color=#000080 face=arial,sans-serif> </FONT></B><B><FONT style="FONT-SIZE: 10pt" color=#000080 face=arial,sans-serif>Financial</FONT></B></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></P></TD></TR>
  <TR style="HEIGHT: 16.9pt">
    <TD style="HEIGHT: 16.9pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="70%">
      <P style="MARGIN: 1.5pt 0in 0pt 1.45pt"><B><FONT style="FONT-SIZE: 9.5pt" color=white face=arial,sans-serif>Economic</FONT></B><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.65pt" color=white face=arial,sans-serif> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: 0.2pt" color=white face=arial,sans-serif>Indexes</FONT></B><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1.2pt" color=white face=arial,sans-serif> </FONT></B><B><FONT style="FONT-SIZE: 12pt" color=white face=arial,sans-serif>*</FONT></B><B><FONT style="FONT-SIZE: 12pt; LETTER-SPACING: -1.35pt" color=white face=arial,sans-serif> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=white face=arial,sans-serif>(quarter</FONT></B><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.55pt" color=white face=arial,sans-serif> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: 0.1pt" color=white face=arial,sans-serif>end)</FONT></B></P></TD>
    <TD style="HEIGHT: 16.9pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=center>
      <P style="MARGIN: 3.1pt 0in 0pt 54.3pt" align=center><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" color=#ffffff face=arial,sans-serif>2Q15</FONT></B></P></TD>
    <TD style="HEIGHT: 16.9pt; BACKGROUND: #333399; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=center>
      <P style="MARGIN: 3.1pt 0in 0pt 0.3in" align=center><B><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" color=#ffffff face=arial,sans-serif>2Q14</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 16.9pt">
    <TD style="HEIGHT: 16.9pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="70%">
      <P style="MARGIN: 4.6pt 0in 0pt 1.45pt"><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>Amplified</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.55pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>Consumer</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.6pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>Price</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.55pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.25pt" face=arial,sans-serif>Index</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>(IPCA)</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.6pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>-</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.6pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>%</FONT></P></TD>
    <TD style="HEIGHT: 16.9pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 4.6pt 0in 0pt 58.8pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>2.26</FONT></P></TD>
    <TD style="HEIGHT: 16.9pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 4.6pt 0in 0pt 26.1pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>1.54</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.55pt">
    <TD style="HEIGHT: 13.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="70%">
      <P style="MARGIN: 2.35pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>Referential </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>Rate </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.4pt" face=arial,sans-serif>(TR) </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>-</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1.3pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>%</FONT></P></TD>
    <TD style="HEIGHT: 13.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 2.35pt 0in 0pt 58.8pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>0.40</FONT></P></TD>
    <TD style="HEIGHT: 13.55pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 2.35pt 0in 0pt 26.1pt" align=right><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>0.15</FONT></P></TD></TR>
  <TR style="HEIGHT: 15pt">
    <TD style="HEIGHT: 15pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="70%">
      <P style="MARGIN: 3.1pt 0in 0pt 1.45pt"><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.25pt" face=arial,sans-serif>Interbank </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>Deposit </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>Certificate </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.3pt" face=arial,sans-serif>(CDI) </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>-</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -1.35pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>%</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 3.1pt 0in 0pt 53.55pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>13.64</FONT></P></TD>
    <TD style="HEIGHT: 15pt; BACKGROUND: #edebe0; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 3.1pt 0in 0pt 20.85pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>10.80</FONT></P></TD></TR>
  <TR style="HEIGHT: 13.5pt">
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="70%">
      <P style="MARGIN: 2.3pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif>US
      </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>DOLAR</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.4pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.25pt" face=arial,sans-serif>(R$)</FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 2.3pt 0in 0pt 48.3pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>3.1026</FONT></P></TD>
    <TD style="HEIGHT: 13.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 2.3pt 0in 0pt 15.65pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>2.2025</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.65pt">
    <TD style="HEIGHT: 14.65pt; BACKGROUND: #edebe0; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="70%">
      <P style="MARGIN: 3.1pt 0in 0pt 1.45pt"><FONT style="FONT-SIZE: 9.5pt" face=arial,sans-serif>YEN</FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.35pt" face=arial,sans-serif>
      </FONT><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.25pt" face=arial,sans-serif>(R$)</FONT></P></TD>
    <TD style="HEIGHT: 14.65pt; BACKGROUND: #edebe0; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 3.1pt 0in 0pt 43.05pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>0.02541</FONT></P></TD>
    <TD style="HEIGHT: 14.65pt; BACKGROUND: #edebe0; BORDER-BOTTOM: #001f5f 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%" align=right>
      <P style="MARGIN: 3.1pt 0in 0pt 15.65pt" align=right><FONT style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.15pt" face=arial,sans-serif>0.0218</FONT></P></TD></TR>
  <TR style="HEIGHT: 20.35pt">
    <TD style="HEIGHT: 20.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="70%">
      <P style="MARGIN: 5.9pt 0in 0pt 2pt"><FONT style="FONT-SIZE: 8pt; LETTER-SPACING: -0.05pt" face=arial,sans-serif>(*)
      Unaudited</FONT></P></TD>
    <TD style="HEIGHT: 20.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 20.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=top width="15%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=navy face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=navy face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=navy face=arial,sans-serif>10. Loans and financing</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=navy face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>On</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.95pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>June</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.95pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>24,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.95pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>2015,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.95pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.95pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Company</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.7pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>fully</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.8pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>redeemed</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.95pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.05pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>16</FONT><FONT style="POSITION: relative; TOP: -5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>th</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.05pt" face=arial,sans-serif> </FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>debenture</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.1pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>issue,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.95pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>totaling</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.95pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>R$</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.25pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>500</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 1.05pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>million.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.1pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>No</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: 0.95pt" face=arial,sans-serif>
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>premium
was</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LETTER-SPACING: -0.2pt" face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>paid.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 6pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=navy face=arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 6pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=navy face=arial,sans-serif>11. Capex</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>In the second quarter of 2015, R$
969.6 million were invested, totaling R$ 1.5 billion investments in the first
six months of 2015. </FONT></P>
<P style="MARGIN: 5.9pt 35.6pt 0pt 21pt">&nbsp;</P><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>
<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 18 of 76</FONT></P>
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      <DIV>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt"><FONT color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>- 06/30/2015 - CIA
      SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 13.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 13.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif>Notes to the
      Interim Financial Information</FONT></B></P></DIV></TD>
    <TD vAlign=top width="15%">
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>
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<DIV align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</DIV></DIV>
<P style="MARGIN: 0.3pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=arial,sans-serif></FONT>&nbsp;</P>
<H4 style="MARGIN: 4.15pt 37.15pt 0pt 45pt; TEXT-INDENT: -34.5pt"><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>1</FONT></B><B><FONT style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Operations</FONT></B></H4>
<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11.5pt" face=georgia></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.2pt 0in 45pt; LINE-HEIGHT: 112%"><FONT lang=PT-BR style="FONT-SIZE: 9.5pt" 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 lang=EN-US style="FONT-SIZE: 9.5pt" 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 and sewage services on a wholesale
basis.</FONT></P>
<P style="MARGIN: 0.25pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.15pt 0in 45pt; LINE-HEIGHT: 112%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" 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, in a sustainable and
competitive manner, with excellence in customer service.</FONT></P>
<P style="MARGIN: 0.1pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.15pt 0pt 44.95pt; LINE-HEIGHT: 112%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=Georgia>On June 30, 2015, 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. 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 364 municipalities. On June 30, 2015,
the Company had 366 contracts.</FONT></P>
<P style="MARGIN: 0.15pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.15pt 0in 45pt; LINE-HEIGHT: 112%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=Georgia>SABESP is not temporarily
operating in some municipalities due to judicial orders. The lawsuits in
progress refer to &#193;lvares Florence, Cajobi, Emba&#250;ba, Iper&#243; and Macatuba, and the
carrying amount of these municipalities' intangible assets was R$11,328 on June
30, 2015 (R$11,328 on December 31, 2014).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.15pt 0in 45pt; LINE-HEIGHT: 112%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=Georgia></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.15pt 0in 45pt; LINE-HEIGHT: 112%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=Georgia>As of June 30, 2015, 53
concession agreements had expired and are being negotiated. From June 30, 2015
to 2030, 37 concession agreements will expire. Management believes that
concession agreements 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. By June 30, 2015, 276 program and services contracts
were signed (274 contracts on December 31, 2014).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.15pt 0in 45pt; LINE-HEIGHT: 112%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=Georgia></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.15pt 0in 45pt; LINE-HEIGHT: 112%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=Georgia>As of June 30, 2015, the
carrying amount of the underlying assets used in the 53 concessions of the
municipalities under negotiation totaled R$6,195,595, accounting for 22.91% of
the total, and the related gross revenue for the six-month period then ended
totaled R$920,940, accounting for 16.61% of the total.</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: 9.5pt" face=georgia></FONT></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.15pt 0in 45pt; LINE-HEIGHT: 112%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=Georgia>The Company's operations are
concentrated in the municipality of S&#227;o Paulo, which represents 49.15% of the
gross revenues on June 30, 2015 (49.79% on June 30, 2014) and 42.42% of
intangible assets (42.29% on December 31, 2014).</FONT></P>
<P style="MARGIN: 0.45pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11.5pt" face=georgia></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.1pt 0in 45pt; LINE-HEIGHT: 112%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" 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></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.1pt 0in 45pt; LINE-HEIGHT: 112%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=Georgia></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.1pt 0in 45pt; LINE-HEIGHT: 112%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black 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></P><FONT style="LINE-HEIGHT: 112%" face=calibri,sans-serif></FONT>
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      <DIV>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt"><FONT color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>- 06/30/2015 - CIA
      SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 13.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 13.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif>Notes to the
      Interim Financial Information</FONT></B></P></DIV></TD>
    <TD vAlign=top width="15%">
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia></FONT>&nbsp;</P>
<P style="MARGIN: 0.35pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 52.7pt; TEXT-INDENT: -7.7pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.1pt" face=georgia>i.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LETTER-SPACING: -0.1pt" face="times new roman">
</FONT><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black 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: 9.5pt" face=georgia>;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 1.35pt 0in 0pt 55.65pt; TEXT-INDENT: -10.65pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.1pt" face=georgia>ii.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LETTER-SPACING: -0.1pt" face="times new roman">
</FONT><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black face=georgia>capture, transport and treat of water</FONT><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia>;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 1.3pt 0in 0pt 58.4pt; TEXT-INDENT: -13.4pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.1pt" face=georgia>iii.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LETTER-SPACING: -0.1pt" face="times new roman">
</FONT><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black face=georgia>collect, transport, treatment and final dispose of&nbsp; sanitary
sewage; and</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 1.3pt 0in 0pt 0.8in; TEXT-INDENT: -12.6pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.1pt" face=georgia>iv.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LETTER-SPACING: -0.1pt" face="times new roman">
</FONT><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black face=georgia>adoption of other actions of basic and environmental
sanitation</FONT><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia>.</FONT></P>
<P style="MARGIN: 0.5pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.15pt 0pt 44.95pt; LINE-HEIGHT: 112%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black 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. As of June
30, 2015, the carrying amount of the municipality of Santos&#8217; intangible assets
was R$362,367 (R$205,261 on December 31, 2014) and gross revenue in the
six-month period ended June 30, 2015 was R$132,720 (R$117,885 on June 30,
2014)</FONT><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=Georgia>.</FONT></P>
<P style="MARGIN: 0.25pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.05pt 0pt 44.95pt; LINE-HEIGHT: 112%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" 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 lang=EN-US style="FONT-SIZE: 9.5pt" face=Georgia>.</FONT></P>
<P style="MARGIN: 0.15pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.25pt 0pt 44.95pt; LINE-HEIGHT: 112%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" 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 lang=EN-US style="FONT-SIZE: 9.5pt" face=Georgia>.</FONT></P>
<P style="MARGIN: 0.15pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 44.95pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black face=Georgia>Public deeds are valid and
governed by the Brazilian Civil Code</FONT><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=Georgia>.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 5.15pt 21.1pt 0pt 44.95pt; LINE-HEIGHT: 112%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black face=Georgia>The Company's
shares have been listed in the Novo Mercado (New Market) segment of
BM&amp;FBovespa under the ticker symbol SBSP3 since April 2002 and on the New
York Stock Exchange (NYSE) as American Depositary Receipts (&#8220;ADRs&#8221;) Level III,
under the SBS code, since May 2002. 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 lang=EN-US style="FONT-SIZE: 9.5pt" face=Georgia>.</FONT></P>
<P style="MARGIN: 0.15pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.2pt 0pt 44.95pt; LINE-HEIGHT: 112%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black 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, Attend Ambiental and Paulista Geradora de
Energia. 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 lang=EN-US style="FONT-SIZE: 9.5pt" face=Georgia>.</FONT></P>
<P style="MARGIN: 0.1pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.15pt 0pt 44.95pt; LINE-HEIGHT: 112%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black face=Georgia>Water shortage &#8211;
the Company&#8217;s operations have been influenced by the lowest rainfall and inflow
never seen in 85 years, especially at the reservoirs composing the Cantareira
System which, under usual conditions, is in charge for direct supply of
approximately 8.8 million people. During the rainy season, from October 2014 to
January 2015, rainfall remained below average, despite above average from
February to March 2015. The expectation was that the water volume stored at the
Cantareira System would recover, however, as the levels were already low due to
the lack of rainfall during Summer in 2013 and 2014, rainfall index in the
region, during the rainy season from October 2014 to March 2015, was not
sufficient to recover the reservoirs, whose levels are below than the one seen
in the historical series. To face this situation and ensure that the water
supply is not interrupted, the Company has been adopting several measures, such
as</FONT><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=Georgia>:</FONT></P><FONT style="LINE-HEIGHT: 112%" face=calibri,sans-serif></FONT>
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      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt"><FONT color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=arial,sans-serif>- 06/30/2015 - CIA
      SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 13.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif></FONT></B>&nbsp;</P>
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 13.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=arial,sans-serif>Notes to the
      Interim Financial Information</FONT></B></P></DIV></TD>
    <TD vAlign=top width="15%">
      <P style="MARGIN: 0in 0in 0pt 1pt; LINE-HEIGHT: 10.2pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>
<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="MARGIN: 0.3pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=georgia></FONT>&nbsp;</P>
<P style="MARGIN: 3.2pt 21.3pt 0pt 79.65pt; LINE-HEIGHT: 108%; TEXT-INDENT: -17.35pt"><FONT style="LINE-HEIGHT: 108%" face=symbol><FONT lang=EN-US style="FONT-SIZE: 10.5pt" 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><FONT style="LINE-HEIGHT: 108%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black face=georgia>Using pumps to
remove water below the catchment level of the Cantareira System, the
so-called&nbsp; &#8220;technical reserve&#8221;, which had never been used before to supply
the population</FONT></FONT><FONT style="LINE-HEIGHT: 108%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia>;</FONT></FONT></P>
<P style="MARGIN: 6.25pt 21.3pt 0pt 79.65pt; TEXT-INDENT: -17.35pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" 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: 9.5pt" color=black face=georgia>Offering discounts (bonus) to consumers, whose volume consumed is
below the average stipulated</FONT><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia>;</FONT></P>
<P style="MARGIN: 6.9pt 21.3pt 0pt 79.65pt; LINE-HEIGHT: 108%; TEXT-INDENT: -17.35pt"><FONT style="LINE-HEIGHT: 108%" face=symbol><FONT lang=EN-US style="FONT-SIZE: 10.5pt" 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><FONT style="LINE-HEIGHT: 108%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia>Using water from other producing systems
to serve consumers previously supplied by the Cantareira
System;</FONT></FONT></P>
<P style="MARGIN: 6.15pt 35.6pt 0pt 79.65pt; TEXT-INDENT: -17.35pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" 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: 9.5pt" color=black face=georgia>Intensifying the advertising campaigns towards the rational use of
water</FONT><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia>;</FONT></P>
<P style="MARGIN: 6.9pt 35.6pt 0pt 79.65pt; TEXT-INDENT: -17.35pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" 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: 9.5pt" face=georgia>Reducing pressure
in the distribution network,</FONT><FONT lang=EN-US style="FONT-SIZE: 9.5pt; LETTER-SPACING: -0.25pt" face=georgia> in order
</FONT><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia>to prevent water
losses;</FONT></P>
<P style="MARGIN: 7pt 35.6pt 0pt 79.65pt; TEXT-INDENT: -17.35pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" 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: 9.5pt" face=georgia>Reducing the water
volume sold to municipalities which operate their own distribution
networks;</FONT></P>
<P style="MARGIN: 6.9pt 35.6pt 0pt 79.95pt; TEXT-INDENT: -17.5pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" 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: 9.5pt" color=black face=georgia>Making
investments earlier than the planned time to expand water safety; and
</FONT></P>
<P style="MARGIN: 6.9pt 35.6pt 0pt 79.95pt; TEXT-INDENT: -17.5pt"><FONT lang=EN-US style="FONT-SIZE: 10.5pt" 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: 9.5pt" color=black face=georgia>Implementing the contingency tariff for consumers whose volume
consumed is above the average stipulated</FONT><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia>.</FONT></P>
<P style="MARGIN: 0.25pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.2pt 0pt 44.95pt; LINE-HEIGHT: 111%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black face=Georgia>The water
reservation volume at the reservoirs relies on several factors, such as levels
of rain, temperature and atmospheric humidity, as well as the type and humidity
of soil in water sources regions.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.2pt 0pt 44.95pt; LINE-HEIGHT: 111%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black face=Georgia></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.2pt 0pt 44.95pt; LINE-HEIGHT: 111%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black face=Georgia>This scenario of
water shortage also had adverse financial effects for the Company. As a result,
since 2014 up to date, the Company has taken decisions to minimize these
effects, including</FONT><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=Georgia>:</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: 9.5pt" color=black face=georgia></FONT></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt 45pt; 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>&#8226; Rearrangement of
investments, </FONT></FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt 45pt; 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>&#8226; Expense budget reduction,
</FONT></FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt 0.75in; LINE-HEIGHT: 110%; TEXT-INDENT: -9pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black face=georgia>&#8226; Negotiation of overdue
receivables (the Company sent a list of 22 municipalities with unpaid water
bills to the State CADIN, including those municipalities served by wholesale);
</FONT></FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.15pt 0in 45pt; LINE-HEIGHT: 112%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black face=Georgia>&#8226; Contracting
guarantee insurance for escrow deposits; and</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.15pt 0in 45pt; LINE-HEIGHT: 112%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black face=Georgia>&#8226; Application of
the extraordinary tariff revision since June 2015. </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: 9.5pt" color=black face=georgia></FONT></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.15pt 0pt 44.95pt; LINE-HEIGHT: 112%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black face=Georgia>The Company&#8217;s
Management expects that the operating cash generation estimated for 2015 and the
lines of credit available for investments will be sufficient to meet its
short-term liabilities and not compromise the actions required to overcome the
water shortage, thus preserving its consumers&#8217; supply</FONT><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=Georgia>.</FONT></P>
<P style="MARGIN: 0.15pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=georgia></FONT>&nbsp;</P>
<P style="MARGIN: 0in 65.7pt 0pt 44.95pt; LINE-HEIGHT: 227%"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black face=Georgia>The interim financial
information was approved by the Board of Directors on August 13,
2015</FONT><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=Georgia>.</FONT></P><FONT style="LINE-HEIGHT: 227%" face=calibri,sans-serif></FONT>
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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>

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<H4 style="TEXT-INDENT: -34.45pt; MARGIN: 4.15pt 37.15pt 0pt 44.95pt"><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>2</FONT></B><B><FONT style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Basis of preparation and presentation of the</FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia> financial statements</FONT></B></H4>

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

<P style="MARGIN: 0.15pt 0in 0pt"><B><FONT style="FONT-SIZE: 13pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 35.6pt 0pt 72.6pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(i)&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Presentation of the quarterly financial information</FONT></P>

<P style="MARGIN: 0.45pt 0in 0pt"><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.1pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The quarterly financial information as of June 30, 2015, 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 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 takes 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 interim financial information for June 30, 2015, therefore, does not include all the notes and reporting required by the annual financial statements, and accordingly, shall be read jointly with the financial statements as of December 31, 2014, prepared pursuant to the International Financial Reporting Standards &#8211; IFRS, issued by the International Accounting Standards Board &#8211; IASB and pursuant to the accounting practices adopted in Brazil which observe the pronouncements issued by the Brazilian Accounting Pronouncements Committee- CPC</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.55pt 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.55pt; MARGIN: 0in 37.15pt 0in 45pt"><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>3</FONT></B><B><FONT style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Accounting policies</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The accounting policies used in the preparation of the quarterly financial information for the quarter ended June 30, 2015 are consistent with those used to prepare the Annual Financial Statements for the year ended December 31, 2014. These policies are disclosed in Note 3 to the Annual Financial Statements</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.35pt 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.55pt; MARGIN: 0in 37.15pt 0in 45pt"><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>4</FONT></B><B><FONT style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Risk Management</FONT></B></H4>

<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 225%; TEXT-INDENT: -17.1pt; MARGIN: 0in 346.5pt 0pt 45pt"><FONT style="LINE-HEIGHT: 225%" face=georgia><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>4.1</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 225%" face=georgia><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>Financial Risk Management</FONT></B></FONT><FONT style="LINE-HEIGHT: 225%" face=georgia><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia> </FONT></B></FONT></P>

<P style="LINE-HEIGHT: 225%; TEXT-INDENT: 0pt; MARGIN: 0in 346.5pt 0pt 45pt"><FONT style="LINE-HEIGHT: 225%" face=georgia><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>Financial risk factors</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0.05pt 21.2pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>The Company's activities are affected by Brazilian economic scenario, making it exposed to market risk (exchange rate and 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></P>

<P style="MARGIN: 0.3pt 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>The Company has not utilized derivative instruments in any of the reported periods.</FONT></P>

<P style="MARGIN: 0.4pt 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="LINE-HEIGHT: 218%; TEXT-INDENT: 0in; MARGIN: 0in 398.75pt 0in 45pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(a)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Market risk&nbsp;&nbsp;</FONT></B></H4>

<H4 style="LINE-HEIGHT: 218%; TEXT-INDENT: 0in; MARGIN: 0in 398.75pt 0in 45pt"><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Foreign currency risk</FONT></B></H4>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0.7pt 21.3pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>SABESP&#8217;s foreign exchange exposure implies market risks associated with currency fluctuations, since the Company has foreign currency-denominated liabilities, mainly US dollar and yen-denominated short and long-term loans.</FONT></P><FONT style="LINE-HEIGHT: 111%" face=calibri,sans-serif></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>

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<P style="MARGIN: 0.55pt 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 22.5pt 0pt 45pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>The management of SABESP&#8217;s foreign currency exposure considers several current and projected economic factors, besides market conditions</FONT><FONT style="FONT-SIZE: 9.5pt" 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: 9.5pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.1pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>This risk arises from the possibility that the Company may incur in 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. The Company does not maintain hedge or swap contracts or any derivative financial instrument to hedge against this risk, 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 style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.25pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 21.1pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" 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$5,140,060 on June 30, 2015 (R$4,363,898 on December 31, 2014). Below, the Company&#8217;s exposure to foreign exchange risk</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 21.1pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<DIV align=left>

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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" 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="30%" colSpan=2 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 30, 2015</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="30%" colSpan=2 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>December 31, 2014</FONT></B></FONT></P></DIV></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="40%" 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" 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="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Foreign currency</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>R$</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Foreign currency</FONT></B></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; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>R$</FONT></B></FONT></P></DIV></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="40%" 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" 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="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 3.4pt 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Loans and financing&#8211; US$</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; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,222,531</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>3,793,025</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,231,188</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>3,270,282</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="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 3.4pt 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Loans and financing &#8211; Yen</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; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>51,854,547</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,317,624</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>48,066,910</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,068,527</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="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 3.4pt 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Interest and charges from loans and financing &#8211; US$</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; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>20,246</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>17,703</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="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 3.4pt 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Interest and charges from loans and financing&#8211; Yen</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; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>9,165</FONT></FONT></P></DIV></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; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>7,386</FONT></FONT></P></DIV></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="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 3.4pt 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Total exposure</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; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>5,140,060</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>4,363,898</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="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 3.4pt 0pt 3.5pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Financing cost</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; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(18,067)</FONT></FONT></P></DIV></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; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

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   <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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(17,606)</FONT></FONT></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Total loans in foreign currency (Note 15)</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black 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="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>5,121,993</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black 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="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>4,346,292</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 21.1pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.1pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The 18% increase in foreign currency-denominated debt from December 31, 2014 to June 30, 2015 was mainly due to the following</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

<P style="MARGIN: 0.1pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: -17.35pt; MARGIN: 0in 21.15pt 0pt 79.65pt"><FONT style="LINE-HEIGHT: 112%" face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>1)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 112%" color=black face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>Exchange rate changes, since the US dollar appreciated 16.8% from R$2.6562 on December 31, 2014 to R$3.1026 on June 30, 2015. The US dollar-denominated debt accounts for 74% of foreign currency-denominated debts; and</FONT></FONT></P>

<P style="TEXT-INDENT: -21.1pt; MARGIN: 2.85pt 35.6pt 0pt 83.55pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>2)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>An 8% increase in Yen-denominated debt and 14% increase in the Yen</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>.</FONT></P>

<P style="MARGIN: 0.45pt 0in 0pt"><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>On June 30, 2015, if the Brazilian real had depreciated or appreciated by 10% against the US dollar and Yen with all other variables held constant, effects on results before taxes on the six-month period ended June 30, 2015 would have been R$514,006 (R$436,390 on December 31, 2014), lower or higher, mainly as a result of foreign exchange losses or gains on the translation of foreign currency-denominated loans</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.25pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 21.15pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" 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 style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P><FONT style="LINE-HEIGHT: 111%" face=calibri,sans-serif></FONT>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 23 of 76</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>

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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" color=black face=georgia></FONT></B></FONT>&nbsp;</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; 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" face=georgia>Scenario I (Probable</FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>)</FONT></B></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%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia>Scenario</FONT></B><B><FONT style="LETTER-SPACING: -1.05pt; FONT-SIZE: 9pt" face=georgia> </FONT></B><B><FONT style="FONT-SIZE: 9pt" face=georgia>II</FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9pt" face=georgia> </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia>(+25</FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>%)</FONT></B></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%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia>Scenario</FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia> III (+50%)</FONT></B></FONT></P></DIV></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" 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(*)</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: 9pt" 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" color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

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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" face=georgia>Net currency exposure on June 30, 2015 (Liabilities) in US$</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><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,222,531</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="15%">

   <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" color=black face=georgia>1,222,531</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="15%">

   <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" color=black face=georgia>1,222,531</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" 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" 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" 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" face=georgia></FONT></FONT>&nbsp;</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" face=georgia>US$ rate on June 30, 2015</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" face=georgia>3.1026</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" face=georgia>3.1026</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" face=georgia>3.1026</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" face=georgia>Exchange rate estimated according to the scenario</FONT></FONT></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; 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><FONT style="FONT-SIZE: 9pt" face=georgia>3.3700</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: 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><FONT style="FONT-SIZE: 9pt" face=georgia>4.2125</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: 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><FONT style="FONT-SIZE: 9pt" face=georgia>5.0550</FONT></FONT></P></DIV></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" 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=bottom width="15%">

   <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" face=georgia>(0.2674)</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="15%">

   <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" face=georgia>(1.1099)</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="15%">

   <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" face=georgia>(1.9524)</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="55%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="15%">

   <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" 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="15%">

   <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" 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="15%">

   <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" 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="55%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Effect on net financial result in R$-- (loss) </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="15%">

   <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" face=georgia>(326,905)</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="15%">

   <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" face=georgia>(1,356,887)</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="15%">

   <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" face=georgia>(2,386,870)</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="55%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="15%">

   <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" 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="15%">

   <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" 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="15%">

   <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" 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="55%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia>Net currency exposure on June 30, 2015 (Liabilities) in 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=bottom width="15%">

   <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" color=black face=georgia>51,854,547</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="15%">

   <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" color=black face=georgia>51,854,547</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="15%">

   <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" color=black face=georgia>51,854,547</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="55%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="15%">

   <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" 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="15%">

   <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" 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="15%">

   <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" 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="55%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Yen rate on June 30, 2015</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="15%">

   <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" face=georgia>0.02541</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="15%">

   <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" face=georgia>0.02541</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="15%">

   <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" face=georgia>0.02541</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="55%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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=bottom width="15%">

   <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><FONT style="FONT-SIZE: 9pt" face=georgia>0.02691</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <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><FONT style="FONT-SIZE: 9pt" face=georgia>0.03363</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <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><FONT style="FONT-SIZE: 9pt" face=georgia>0.04036</FONT></FONT></P></DIV></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="55%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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=bottom width="15%">

   <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" face=georgia>(0.00150)</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="15%">

   <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" face=georgia>(0.00822)</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="15%">

   <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" face=georgia>(0.01495)</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="55%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="15%">

   <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" 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="15%">

   <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" 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="15%">

   <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" 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="55%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Effect on net financial result in R$ - (loss)</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="15%">

   <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><FONT style="FONT-SIZE: 9pt" face=georgia>(77,782)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <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><FONT style="FONT-SIZE: 9pt" face=georgia>(426,244)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <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><FONT style="FONT-SIZE: 9pt" face=georgia>(775,225)</FONT></FONT></P></DIV></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="55%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="15%">

   <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" 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="15%">

   <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" 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="15%">

   <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" 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="55%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Total effect on net financial result in R$- (loss) </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="15%">

   <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" face=georgia>(404,687)</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="15%">

   <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" face=georgia>(1,783,131)</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="15%">

   <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" face=georgia>(3,162,095)</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="55%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="15%">

   <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" 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="15%">

   <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" 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="15%">

   <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" 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="100%" colSpan=4>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(*)The probable scenario in foreign currency (US dollar and Yen) considered the average exchange rate for the 12-month period after June 30, 2015, according to BM&amp;FBovespa.</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.2pt 0in 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.4pt 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 45pt"><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Interest rate risk</FONT></B></H4>

<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.25pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" 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 style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.2pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The Company has not entered into any derivative contract to hedge against this risk; however continually monitors market interest rates, in order to evaluate the possible need to replace its debt</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P><FONT style="LINE-HEIGHT: 112%" face=calibri,sans-serif></FONT>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 24 of 76</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>

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<DIV align=left><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</DIV></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 4.15pt 35.6pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>The table below provides the Company's loans and financing subject to variable interest rate:</FONT></P>

<P style="MARGIN: 7.5pt 35.6pt 0pt 197.3pt"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<DIV align=center>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="60%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 30, 2015</FONT></B></FONT></P></DIV></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>December 31, 2014</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="60%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="60%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>TR</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia><SUP>(i)</SUP></FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,632,987</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,578,250</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="60%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>CDI</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia><SUP>(ii)</SUP></FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,117,191</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,712,010</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="60%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>TJLP</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia><SUP>(iii)</SUP></FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,064,772</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,059,074</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="60%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>IPCA</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia><SUP>(iv)</SUP></FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,572,117</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,492,320</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="60%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>LIBOR</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia><SUP>(v)</SUP></FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,259,826</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,953,989</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="60%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Interest and charges</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>96,630</FONT></FONT></P></DIV></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>133,776</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="60%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Total </FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>7,743,523</FONT></FONT></P></DIV></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>7,929,419</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 7.5pt 35.6pt 0pt 197.3pt"><B><FONT style="FONT-SIZE: 3.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -12.45pt; MARGIN: 4.15pt 0in 0pt 57.45pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(i)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>TR &#8211; </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>Interest Benchmark Rate</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -15.2pt; MARGIN: 1.35pt 0in 0pt 60.2pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=PT-BR face=georgia>(ii)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=PT-BR face="times new roman"> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=PT-BR face=georgia>CDI - </FONT><FONT style="FONT-SIZE: 9.5pt" lang=PT-BR color=black face=georgia>(Certificado de Dep&#243;sito Interbanc&#225;rio), an interbank deposit certificate</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -18.1pt; MARGIN: 1.3pt 0in 0pt 63.1pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=PT-BR face=georgia>(iii)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=PT-BR face="times new roman"> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=PT-BR face=georgia>TJLP - </FONT><FONT style="FONT-SIZE: 9.5pt" lang=PT-BR color=black face=georgia>(Taxa de Juros a Longo Prazo), a long-term interest rate index</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -17.2pt; MARGIN: 1.3pt 0in 0pt 62.2pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=PT-BR face=georgia>(iv)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=PT-BR face="times new roman"> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=PT-BR face=georgia>IPCA - </FONT><FONT style="FONT-SIZE: 9.5pt" lang=PT-BR color=black face=georgia>(&#205;ndice Nacional de Pre&#231;os ao Consumidor Amplo), a consumer price index</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -14.45pt; MARGIN: 1.45pt 0in 0pt 59.45pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(v)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman"> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>LIBOR - London Interbank Offered</FONT><FONT style="LETTER-SPACING: -0.65pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>Rate</FONT></P>

<P style="MARGIN: 0.4pt 0in 0pt"><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.2pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>As of June 30, 2015, if interest rates on loans and financing denominated in Brazilian reais had been 1% higher or lower with all other variables held constant, the effects on profit for the six-month period ended June 30, 2015, before taxes would have been R$77,435 (R$79,294 on December 31, 2014) lower or higher</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.25pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 21.2pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" 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 tariff adjustments do not necessarily follow the increases in the inflation indexes to adjust loans, financing and interest rates affecting the Company's indebtedness.</FONT></P>

<P style="MARGIN: 0.3pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0in 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(b)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Credit risk</FONT></B></H4>

<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 22.5pt 0pt 45pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9.5pt" 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 and accounts receivable from related parties. Credit risk exposure to customers is mitigated by sales to a dispersed 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: 9.5pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 21.05pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The maximum exposures to credit risk on June 30, 2015 are the carrying amounts of instruments classified as cash equivalents, deposits in banks and financial institutions, restricted cash, trade accounts receivable and accounts receivable from related parties. See additional information in Notes 6, 7, 8 and 9</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P><FONT style="LINE-HEIGHT: 111%" face=calibri,sans-serif></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>

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<DIV align=left><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</DIV></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 21.15pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" 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 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 (Fitch, Moody's and S&amp;P), according to internal policy of market risk management</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

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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" color=black face=georgia></FONT></B></FONT>&nbsp;</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>December 31, 2014</FONT></B></FONT></P></DIV></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" color=black face=georgia>Cash at bank and short-term bank deposits</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></FONT>&nbsp;</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" color=black face=georgia>AAA(bra)</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>802,414</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,722,347</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" color=black face=georgia>Other (*)</FONT></FONT></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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>617</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>644</FONT></FONT></P></DIV></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" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>803,031</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,722,991</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.55pt 0in 0pt"><FONT style="FONT-SIZE: 3.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 111%; MARGIN: 4.15pt 21.3pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(*)</FONT><FONT style="FONT-SIZE: 9.5pt" 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 style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.35pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 111%; MARGIN: 0in 21.3pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" 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 style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US 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;&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="BORDER-BOTTOM: medium none; 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"><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Banks</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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Fitch</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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Moody's</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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Standard Poor's</FONT></B></P></DIV></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=georgia>Banco do Brasil S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>AAA (bra)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Aaa.br</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>-</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=georgia>Banco Santander Brasil S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>AAA (bra)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Aaa.br</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>brAAA</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Brazilian Federal Savings Bank</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>AAA (bra)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Aaa.br</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>brAAA</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Banco Bradesco S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>AAA (bra)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Aaa.br</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>brAAA</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Ita&#250; Unibanco Holding S.A.</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>AAA (bra)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Aaa.br</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>brAAA</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 21.15pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0in 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(c)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liquidity risk </FONT></B></H4>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 21.15pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 22.5pt 0pt 45pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black 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, as well as the payment of debts.</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: 9.5pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 22.5pt 0pt 45pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>The funds held by the Company are invested in interest-bearing current accounts, time deposits and securities, selecting instruments with appropriate maturity or liquidity sufficient to provide margin as determined by projections mentioned above.</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: 9.5pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 21.2pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The table below shows the financial liabilities of the Company, into relevant maturities, including the installment of principal and future interest to be paid according to the agreement</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P><FONT style="LINE-HEIGHT: 111%" face=calibri,sans-serif></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV>

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   <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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>July to December 2015</FONT></B></FONT></P></DIV></TD>

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0in 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><I><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2017</FONT></I></FONT></P></DIV></TD>

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0in 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><I><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2018</FONT></I></FONT></P></DIV></TD>

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0in 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><I><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2019</FONT></I></FONT></P></DIV></TD>

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   <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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2020 onwards</FONT></B></FONT></P></DIV></TD>

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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: 8pt" color=black face=georgia>As of June 30, 2015</FONT></B></FONT></P></TD>

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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: 8pt" color=black face=georgia>Liabilities</FONT></FONT></P></TD>

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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="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Loans and financing</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>508,194</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,780,852</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,860,473</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,421,382</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; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><I><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,475,028</FONT></I></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>7,878,918</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>14,924,847</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="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Accounts payable to suppliers and contractors</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>254,389</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-</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; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><I><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></I></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-</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; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><I><FONT style="FONT-SIZE: 8pt" color=black face=georgia>254,389</FONT></I></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="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Services payable</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>302,680</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-</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; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><I><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></I></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-</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; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><I><FONT style="FONT-SIZE: 8pt" color=black face=georgia>302,680</FONT></I></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="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Public-private partnership &#8211; PPP (*)</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>23,019</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>46,038</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>46,038</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>285,104</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; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><I><FONT style="FONT-SIZE: 8pt" color=black face=georgia>285,104</FONT></I></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>4,658,234</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>5,343,537</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="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" 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=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>180,788</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>52,583</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>11,082</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>622</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; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><I><FONT style="FONT-SIZE: 8pt" color=black face=georgia>832</FONT></I></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>17,185</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>263,092</FONT></FONT></P></TD></TR></TABLE></DIV>

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

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 21.1pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(*)</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The Company also considered future commitments (construction not yet performed) not yet recognized in the financial statements related to S&#227;o Louren&#231;o PPP, due to the relevance of future cash flows, the impacts on its operations and the fact the Company already has formalized this commitment through an agreement signed by the parties</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Future interest</FONT></P>

<P style="MARGIN: 0.45pt 0in 0pt"><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US 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></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Cross</FONT><FONT style="LETTER-SPACING: 0.85pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>default</FONT></P>

<P style="MARGIN: 0.45pt 0in 0pt"><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.1pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The Company has loan and financing agreements including cross default clauses, i.e., the early maturity of any debt may imply the early maturity of these agreements. The indicators are continuously monitored in order to avoid the execution of this clause</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 45pt"><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>(d)&nbsp;&nbsp;&nbsp;&nbsp; Other price risks</FONT></B></H4>

<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: 112%; MARGIN: 0in 21.1pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The Company is exposed to the price risk of investment in equity instruments of Companhia de Transmiss&#227;o de Energia El&#233;trica Paulista &#8211; CTEEP, solely held for trading purposes in the short term.</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; TEXT-INDENT: 45pt; MARGIN: 0in 0in 0pt"><U><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>Sensitivity analysis of equity instruments price</FONT></U></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; TEXT-DECORATION: none" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.1pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The sensitivity analysis was determined based on the exposure to the equity instruments price at the end of the reporting period.</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; LINE-HEIGHT: 112%; MARGIN: 0in 21.1pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>If the equity instrument price were 10% lower, the profit for the quarter ended June 30, 2015 would decrease by R$5,737,&nbsp; net of taxes.</FONT></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 45pt"><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>(e)&nbsp; </FONT></B><B><FONT style="LETTER-SPACING: 2.05pt; FONT-SIZE: 9.5pt" face=Georgia>&nbsp;</FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Sensitivity analysis on interest rate risk</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>The table below shows the sensitivity analysis of the financial instruments, 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 (scenario I), appreciation of 25% (scenario II) and 50% (scenario III).</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: 9.5pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US 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></P><FONT style="LINE-HEIGHT: 112%" face=calibri,sans-serif></FONT>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 27 of 76</FONT></P></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV>

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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" face=georgia>June 30, 2015</FONT></B></FONT></P></TD></TR>

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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; 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"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia>Indicators</FONT></B></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%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia>Exposure</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <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" face=georgia>Scenario I (Probable) (i)</FONT></B></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%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia>Scenario II</FONT></B></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%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia>25%</FONT></B></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%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia>Scenario III</FONT></B></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%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia>50%</FONT></B></FONT></P></DIV></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" 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" 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" 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" 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" face=georgia></FONT></FONT>&nbsp;</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" face=georgia>Assets</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%" face=georgia><FONT style="FONT-SIZE: 9pt" 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" 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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; 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" face=georgia>CDI</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <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" face=georgia>740,479</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" face=georgia>13.2100%(*)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>16.5125%(***)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <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" face=georgia>19.8150%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

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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" face=georgia>Financial income</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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>97,817</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>122,272</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <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" face=georgia>146,726</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" width="30%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" width="20%">

   <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" 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" 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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" width="10%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 8.5pt">

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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" face=georgia>Liabilities</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%" face=georgia><FONT style="FONT-SIZE: 9pt" 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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; 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" face=georgia>CDI </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <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" face=georgia>(1,117,191)</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia> </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>13.2100%(*)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>16.5125%(***)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <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" face=georgia>19.8150%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; 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" face=georgia>Interest to be incurred</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>(147,581)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>(184,476)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <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" face=georgia>(221,371)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt">&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" width="20%">

   <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>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" width="20%" noWrap>

   <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>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" width="20%" noWrap>

   <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>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" width="10%" noWrap>

   <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>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; 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" face=georgia>CDI net exposure</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; 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; 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><FONT style="FONT-SIZE: 9pt" face=georgia>(376,712)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; 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; 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><FONT style="FONT-SIZE: 9pt" face=georgia>(49,764)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; 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; 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><FONT style="FONT-SIZE: 9pt" face=georgia>(62,204)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; 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; 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><FONT style="FONT-SIZE: 9pt" face=georgia>(74,645)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; 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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; 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" face=georgia>Liabilities</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; 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" face=georgia>TR</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <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" color=black face=georgia>(1,632,987)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>0.0198%(*)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>0.0248%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <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" face=georgia>0.0297%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; 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" face=georgia>Expenses to be incurred</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>(323)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>(405)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <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" face=georgia>(485)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; 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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; 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" face=georgia>IPCA</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <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" color=black face=georgia>(1,572,117)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>5.5000%(*)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>6.8750%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <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" face=georgia>8.2500%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; 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" face=georgia>Expenses to be incurred</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>(86,466)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>(108,083)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <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" face=georgia>(129,700)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; 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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; 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" face=georgia>TJLP</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <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" color=black face=georgia>(1,064,772)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>6.0000%(*)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>7.5000%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <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" face=georgia>9.0000%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; 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" face=georgia>Interest to be incurred</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>(63,886)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>(79,858)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <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" face=georgia>(95,829)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; 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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; 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" face=georgia>LIBOR </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <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" color=black face=georgia>(2,259,826)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>0.4913%(**)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>0.6141%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <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" face=georgia>0.7369%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; 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" face=georgia>Interest to be incurred</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>(11,103)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <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" face=georgia>(13,878)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <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" face=georgia>(16,653)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%" 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" face=georgia></FONT>&nbsp;</P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="20%" 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" face=georgia></FONT>&nbsp;</P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" face=georgia></FONT>&nbsp;</P></DIV></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; 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" 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: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" 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: 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><FONT style="FONT-SIZE: 9pt" face=georgia>(211,542)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="20%" 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: 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><FONT style="FONT-SIZE: 9pt" face=georgia>(264,428)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; 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: 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><FONT style="FONT-SIZE: 9pt" face=georgia>(317,312)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; 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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=top width="20%">

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" width="20%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" width="20%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" width="10%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" width="100%" colSpan=5>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(*) Source: Focus Report &#8211; BACEN, June 30, 2015</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" width="100%" colSpan=5>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(**) Source: Bloomberg</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 8.5pt">

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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" face=georgia>(***) Scenario with a 25% and 50% increase, as the Company&#8217;s net exposure in CDI is negative</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 4.25pt 201.2pt 0pt 224.8pt" align=center><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.1pt 0in 0pt"><B><FONT style="FONT-SIZE: 1pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.05pt 0in 0pt"><B><FONT style="FONT-SIZE: 3pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: 2.25pt; MARGIN: 0in 21.1pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(i)</FONT><FONT style="LETTER-SPACING: 0.7pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Refers to the scenario of interest to be incurred for the 12 months as of June 30, 2015 or until the maturity of the agreements, whichever is shorter</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.1pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -17.1pt; MARGIN: 0in 37.15pt 0in 45pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>4.2</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Capital management</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 22.5pt 0pt 45pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9.5pt" 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: 9.5pt" 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: 9.5pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.2pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>The Company monitors capital based on the leverage ratio. This ratio corresponds to net debt divided by total 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></P><FONT style="LINE-HEIGHT: 112%" face=calibri,sans-serif></FONT>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 28 of 76</FONT></P></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; 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=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 30, 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; 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=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>December 31, 2014</FONT></B></P></DIV></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="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" 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="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" 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="26%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" 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="49%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Total loans and financing (Note 15)</FONT></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 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>11,091,435</FONT></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; MARGIN: 0in 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>10,785,767</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="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(-)Cash and cash equivalents (Note 6)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(803,031)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(1,722,991)</FONT></P></DIV></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="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT style="FONT-SIZE: 9pt" 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 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" 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="26%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" 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="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Net debt</FONT></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 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>10,288,404</FONT></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; MARGIN: 0in 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>9,062,776</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="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Total equity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>13,937,894</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>13,304,403</FONT></P></DIV></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="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT style="FONT-SIZE: 9pt" 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 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" 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="26%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" 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="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Total capital</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>24,226,298</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>22,367,179</FONT></P></DIV></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="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT style="FONT-SIZE: 9pt" 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 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" 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="26%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" 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="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Leverage ratio</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>42%</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>41%</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.25pt 0in 0pt"><FONT style="FONT-SIZE: 12.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 21.2pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The leverage ratio increased from the 41% as of December 31, 2014 to 42% on June 30, 2015, due to the increased in foreign-currency denominated loans and financing as a result of the foreign exchange rate variation in 2015</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.3pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -17.15pt; MARGIN: 0in 37.15pt 0pt 45.05pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>4.3</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Fair value estimates</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 21.1pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>It is assumed that balances from trade accounts receivable (current) and accounts payable to suppliers by carrying amount, less impairment, approximate their fair values, 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></P>

<P style="MARGIN: 0.3pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -17.05pt; MARGIN: 0in 37.15pt 0pt 44.95pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>4.4</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Financial Instruments</FONT></B></H4>

<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.05pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>As of December 31, 2014 the Company&nbsp; had neither financial assets classified as held to maturity, available for sale and fair value through profit or loss nor financial liabilities classified as fair value through profit or loss. In the second quarter of 2015, the Company received CTEEP&#8217;s shares, which were classified as financial asset held for trading and are recognized at fair value through profit or loss. This is the only change in financial instruments classifications when compared to the year ended December 31, 2014. The Company&#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, and the financial instruments under other liabilities category are comprised of balance payable to 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 style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.1pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>The estimated fair values of financial instruments are as follows:</FONT></P>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 29 of 76</FONT></P></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV>

<DIV align=left><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</DIV></DIV>

<P style="MARGIN: 4.15pt 35.6pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Financial assets</FONT></P>

<P style="MARGIN: 0.2pt 0in 0pt"><FONT style="FONT-SIZE: 12.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 92%; MARGIN-LEFT: 40pt" 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="36%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" 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="32%" colSpan=2 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 9pt" color=black face=georgia>June 30, 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="32%" colSpan=2 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 9pt" color=black face=georgia>December 31, 2014</FONT></B></P></DIV></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="36%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" 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>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 9pt" color=black face=georgia>Carrying amount</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 9pt" color=black face=georgia>Fair value</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 9pt" color=black face=georgia>Carrying amount</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 9pt" color=black face=georgia>Fair value</FONT></B></P></DIV></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="36%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT><FONT style="FONT-SIZE: 9pt" 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="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>803,031</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>803,031</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,722,991</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,722,991</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="36%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT><FONT style="FONT-SIZE: 9pt" 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="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>20,171</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>20,171</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>19,750</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>19,750</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="36%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT><FONT style="FONT-SIZE: 9pt" 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="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,310,017</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,310,017</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,224,278</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,224,278</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="36%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT><FONT style="FONT-SIZE: 9pt" 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="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>127,855</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>127,855</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>122,634</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>122,634</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="36%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Financial asset held for trading</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>86,930</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>86,930</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" align=right><FONT style="FONT-SIZE: 9pt" 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="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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="36%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black 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="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>193,611</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>193,611</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>187,950</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>187,950</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 4.25pt 35.6pt 0pt 247.95pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.1pt 0in 0pt"><B><FONT style="FONT-SIZE: 1pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 21.1pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Additionally, SABESP has financial instrument assets receivable from related parties, in the amount of R$817,674 as of June 30, 2015 (R$223,983 as of December 31, 2014), which were calculated in accordance with the conditions negotiated between related parties. The conditions and additional information referring to these financial instruments are disclosed in Note 9 to this interim financial information and in Note 10 to the annual financial statements as of December 31, 2014. Part of this balance, totaling R$747,111 (R$155,493 on December 31, 2014), refers to reimbursement from additional retirement and pension plan - G0 which is indexed by IPCA plus simple interest of 0.5% p.m. This interest rate approximates that one practiced by federal government bonds (NTN-b) with terms similar to those of related-party transactions.</FONT></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Financial liabilities</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.55pt 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 40pt" 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="36%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" 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="32%" colSpan=2 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 9pt" color=black face=georgia>June 30, 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="32%" colSpan=2 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 9pt" color=black face=georgia>December 31, 2014</FONT></B></P></DIV></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="36%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" 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>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 9pt" face=georgia>Carrying amount</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 9pt" color=black face=georgia>Fair value</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 9pt" face=georgia>Carrying amount</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 9pt" color=black face=georgia>Fair value</FONT></B></P></DIV></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="36%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black 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="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>11,091,435</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>10,706,227</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>10,785,767</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>10,641,611</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="36%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black 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="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>254,389</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>254,389</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>323,513</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>323,513</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="36%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black 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="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>302,680</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>302,680</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>318,973</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>318,973</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="36%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black 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="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>243,552</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>243,552</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>207,759</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>207,759</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="36%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black 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="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>543,355</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>543,355</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>368,283</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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>368,283</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 35.6pt 0pt 247.95pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 4.15pt 21.1pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>The criteria adopted to obtain the fair values of loans and financing, in preparing the interim financial information as of June 30, 2015, are consistent with those adopted in the Annual Financial Statements for the fiscal year ended December 31, 2014. In the Annual Financial Statements, these criteria are disclosed in Note 5.4.</FONT></P>

<P style="MARGIN: 0.3pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.1pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" 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 style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 112%" face=calibri,sans-serif></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></DIV></DIV>

<P style="MARGIN: 0.55pt 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.55pt 0in 0pt"><FONT size=2 face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 4.15pt 37.15pt 0pt 45pt"><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>5</FONT></B><B><FONT style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Critical accounting estimates and judgments</FONT></B></H4>

<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 112%; MARGIN: 0in 21.3pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black 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: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 35.6pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The main accounting estimates and judgments are disclosed in Note 6 to the Annual Financial Statements as of December 31, 2014</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.45pt; MARGIN: 5.2pt 37.15pt 0pt 44.95pt"><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>6</FONT></B><B><FONT style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Cash and Cash Equivalents</FONT></B></H4>

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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" 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>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 30, 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>December 31, 2014</FONT></B></P></DIV></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" 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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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" color=black face=georgia>Cash and banks</FONT></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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>62,552</FONT></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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>118,226</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" color=black face=georgia>Cash equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>740,479</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,604,765</FONT></P></DIV></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" 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>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>803,031</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,722,991</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.5pt 0in 0pt 45pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 1.4pt; MARGIN: 0in 0in 0pt 204.6pt"><FONT style="FONT-SIZE: 1pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.55pt 0in 0pt"><FONT style="FONT-SIZE: 13pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.05pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Cash and cash equivalents include cash, bank deposits and high-liquidity short-term financial investments, mainly represented by repurchase agreements (accruing CDI interest rates), deposited at Banco do Brasil, 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: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The average yield of financial investments corresponds to 99.30% of CDI in June 2015 (99.68% in December 2014)</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.4pt 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 0in 37.15pt 0in 45pt"><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>7</FONT></B><B><FONT style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Restricted cash</FONT></B></H4>

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

<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 45pt" 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"><FONT style="FONT-SIZE: 9pt" 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>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 30, 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>December 31, 2014</FONT></B></P></DIV></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" 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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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" color=black face=georgia>Agreement with the municipal government of S&#227;o Paulo (i)</FONT></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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>9,759</FONT></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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>9,176</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" color=black face=georgia>Funds raised with BNDES (ii)</FONT></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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>6,737</FONT></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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>6,433</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" color=black face=georgia>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>3,675</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>4,141</FONT></P></DIV></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" 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>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>20,171</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>19,750</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 35.6pt 0pt 303.45pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.2pt 0in 0pt"><B><FONT style="FONT-SIZE: 1pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.15pt 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 111%; TEXT-INDENT: -19.3pt; MARGIN: 4.15pt 21.15pt 0pt 78.1pt"><FONT style="LINE-HEIGHT: 111%" face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(i)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 111%" color=black face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>Agreement with the municipal government of S&#227;o Paulo where the Company transfers 7.5% of the Municipal revenue to the Municipal Fund</FONT></FONT><FONT style="LINE-HEIGHT: 111%" face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>;</FONT></FONT></P>

<P style="MARGIN: 0.2pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 102%; TEXT-INDENT: -19.3pt; MARGIN: 0in 28.05pt 0pt 78.1pt"><FONT style="LINE-HEIGHT: 102%" face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(ii)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 102%" color=black face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>Refers to funds raised with the Brazilian Development Bank&#8211; BNDES, awaiting the authorization for use</FONT></FONT><FONT style="LINE-HEIGHT: 102%" face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>.</FONT></FONT></P><FONT style="LINE-HEIGHT: 102%" face=georgia></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0.3pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 0in 37.15pt 0in 45pt"><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>8</FONT></B><B><FONT style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Trade Accounts Receivable</FONT></B></H4>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 45pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>(a)Financial position balances</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 45pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 26.85pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 16.45pt">

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   <P style="MARGIN: 0in 2.85pt 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 30, 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>December 31, 2014</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Private sector:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" 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: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>931,132</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>852,815</FONT></P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Agreements (iii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>293,605</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>291,367</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,224,737</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,144,182</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Government entities:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Municipal</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>545,361</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>533,984</FONT></P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Federal</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>6,665</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>4,671</FONT></P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Agreements (iii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>189,738</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>192,253</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>741,764</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>730,908</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Guarulhos</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>833,103</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>776,674</FONT></P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Mau&#225;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>390,706</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>366,515</FONT></P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Mogi das Cruzes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,149</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,092</FONT></P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Santo Andr&#233;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>821,936</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>787,305</FONT></P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" 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: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,871</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,779</FONT></P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Diadema (*)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>222,671</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>224,433</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" 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: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,272,436</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,158,798</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Unbilled supply</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>389,549</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>354,678</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Subtotal</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>4,628,486</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>4,388,566</FONT></P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" 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: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(3,318,469)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(3,164,288)</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Total </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,310,017</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,224,278</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,144,774</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,034,820</FONT></P></TD></TR>

<TR style="HEIGHT: 16.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Noncurrent </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>165,243</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>189,458</FONT></P></DIV></TD></TR>

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   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,310,017</FONT></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,224,278</FONT></P></DIV></TD></TR></TABLE></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0.3pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: -13.8pt; MARGIN: 4.15pt 21.15pt 0pt 58.75pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(*)</FONT><FONT style="FONT-SIZE: 9.5pt" 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 style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.1pt 0pt 58.75pt"><FONT style="FONT-SIZE: 9.5pt" 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 there is a full compliance with the agreements and provision of services contract</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.25pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 58.75pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>This balance is fully accrued as losses</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.4pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0pt 58.75pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Additionally, in compliance with the judicial settlements signed between SABESP and the Municipality of Diadema on March 25, 2015, SABESP and Saned entered into a Share Purchase Agreement with Empresa de &#193;gua e Esgoto de Diadema S.A. (&#8220;EAED&#8221;) &#8211; a wholly-owned subsidiary of Saned.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0pt 58.75pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0pt 58.75pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>On June 4, 2015, SABESP acquired the total shares of EAED, resulting in the write-off of trade accounts receivable and allowance for doubtful accounts with the municipality of Diadema, totaling R$1,762. Additionally, SABESP&#8217;s quarterly information comprises the net balance of assets and liabilities acquired from EAED in the amount of R$975, basically referring to property, plant and equipment, and liabilities related to employees. As these assets have no independent operating activity and were used to settle Diadema&#8217;s commitments with the Company, they are not characterized as business acquisition, as per Technical Pronouncement CPC 15 (R1) &#8211; Business Combinations, but an extension of services rendered by SABESP, without capacity to generate future economic benefits, decision-making power and operational autonomy, which also does not require the need to apply CPC 36 (R3) Consolidated Financial Statements.</FONT></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 112%; MARGIN: 0in 21.3pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>From January to June 2015, there were no relevant changes in relation to the operations presented in the financial statements as of December 31, 2014</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -13.7pt; MARGIN: 0in 35.6pt 0pt 86.3pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(i)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>General customers - residential and small and mid-sized companies</FONT></P>

<P style="MARGIN: 0.45pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; TEXT-INDENT: -13.7pt; MARGIN: 0in 21.1pt 0pt 86.3pt"><FONT style="LINE-HEIGHT: 111%" face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(ii)</FONT></FONT><FONT style="LINE-HEIGHT: 111%" color=black face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 111%" face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>Special customers - large consumers, commercial, industries, condominiums and special billing consumers (industrial waste, wells</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>, etc.</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>).</FONT></FONT></P>

<P style="MARGIN: 0.35pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -18.05pt; MARGIN: 0in 35.6pt 0pt 90.65pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(iii)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman"> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>Agreements - installment payments of past-due receivables, plus monetary restatement and interest.</FONT></P>

<P style="MARGIN: 0.45pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: -13.7pt; MARGIN: 0in 21.15pt 0pt 86.3pt"><FONT style="LINE-HEIGHT: 112%" face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(iv)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 112%" face=georgia><FONT style="FONT-SIZE: 9.5pt" 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: 9.5pt" lang=EN-US color=black face=georgia>, which have full allowance for doubtful accounts. Additionally, t</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>he overdue amounts are included in the allowance for doubtful accounts.</FONT></FONT></P><FONT style="LINE-HEIGHT: 112%" face=georgia></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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<P style="MARGIN: 4.15pt 35.6pt 0pt 86.3pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Below, the breakdown of trade accounts receivable at wholesale</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

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<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 2.85pt 0pt"><B><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" color=black face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 6pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Six-month period ended </FONT></B></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 30, 2015</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: 6pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Twelve-month period ended </FONT></B></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>December 31 , 2014</FONT></B></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 6pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 6pt 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Balance at the beginning of the period</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 6pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,158,798</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 6pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,917,859</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt -10pt 0pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 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="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>164,150</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>375,294</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: 6pt -10pt 0pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Receipts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 6pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(50,512)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 6pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(134,355)</FONT></P></DIV></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: 6pt 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" 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: 6pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 6pt 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Balance at the end 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="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 6pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,272,436</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 6pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,158,798</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 4.05pt 21.3pt 0pt 93.1pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.55pt 0in 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -27.6pt; MARGIN: 4.15pt 35.6pt 0pt 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(b)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>The aging of trade accounts receivable is as follows:</FONT></B></H4>

<P style="MARGIN: 0.25pt 0in 0pt"><B><FONT style="FONT-SIZE: 12.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.05pt 0in 0pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 45pt" 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" 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="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 30, 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>December 31, 2014</FONT></B></P></DIV></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" 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: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" 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" 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="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,050,564</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>992,800</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" 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="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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" 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="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>161,757</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>136,666</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" 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="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>78,299</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>93,534</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" 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="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>66,971</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>62,276</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" 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="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>66,937</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>54,725</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" 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="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>92,454</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>96,079</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" 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="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>206,734</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>202,024</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" color=black face=georgia>Over 360 days</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,904,770</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,750,462</FONT></P></DIV></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" 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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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" color=black face=georgia>Total past-due</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>3,577,922</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>3,395,766</FONT></P></DIV></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" 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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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" color=black face=georgia>Total </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>4,628,486</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>4,388,566</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 4.25pt 35.6pt 0pt 44.95pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 21.2pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The increase in the balance overdue is mainly due to accounts receivable at wholesale, where municipalities are challenging in court the tariffs charged by SABESP. These amounts are fully covered by the allowance for doubtful accounts</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P><FONT style="LINE-HEIGHT: 112%" face=calibri,sans-serif></FONT>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 34 of 76</FONT></P></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV>

<DIV align=left><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</DIV></DIV>

<P style="MARGIN: 0.55pt 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -27.55pt; MARGIN: 4.15pt 35.6pt 0pt 72.55pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(c)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allowance for doubtful accounts</FONT></B></H4>

<P style="MARGIN: 0.2pt 0in 0pt"><B><FONT style="FONT-SIZE: 12.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.1pt 0in 0pt"><B><FONT style="FONT-SIZE: 1pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

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<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><B><FONT style="FONT-SIZE: 9pt" 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="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 30, 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 30, 2014</FONT></B></P></DIV></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" 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: justify; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" 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" 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="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>3,164,288</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,856,684</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" 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="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>53,643</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>34,927</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" 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="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(18,061)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(22,075)</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" color=black face=georgia>Wholesale customers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>117,042</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>169,228</FONT></P></DIV></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" 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 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" 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" 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="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>152,624</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>182,080</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" 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 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" 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" color=black face=georgia>Write-off in the period referring to the bad debt</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,557</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(129)</FONT></P></DIV></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" 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 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" 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" color=black face=georgia>Balance at the end 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="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>3,318,469</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>3,038,635</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt 45pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 45pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 45pt" 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="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Reconciliation of provision for losses of income</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>April to June 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>January to June 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>April to June 2014</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>January to June 2014</FONT></B></P></DIV></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="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" 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: justify; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" 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="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.4pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Losses (write-off)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>26,487</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>30,147</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: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>10,697</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>20,086</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="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.4pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Provision for state entities (related parties)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" 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="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,399</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: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>795</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>795</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="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.4pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Provision for 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="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(4,320)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>53,643</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: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>17,862</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>34,926</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="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.4pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Provision for wholesale supply</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(18,157)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(20,608)</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: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>42,596</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>42,596</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="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.4pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" 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="15%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(3,833)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(18,061)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(10,315)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(22,075)</FONT></P></DIV></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="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" 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="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Amount recorded as selling expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>177</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>47,520</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: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>61,635</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>76,328</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt 45pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 111%; MARGIN: 24.65pt 21.3pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Wholesale sales losses were recorded as revenue reduction, R$72,486 in the second quarter of 2015 and R$137,650 in the first half of 2015 (R$29,261 &nbsp;in the second quarter of 2014 and R$125,525 in the first half of 2014)</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 12.25pt 35.6pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The Company does not have customers accounting for 10% or more of its revenues</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 35 of 76</FONT></P></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV>

<DIV align=left><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</DIV></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 0in 37.15pt 0in 45pt"><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>9</FONT></B><B><FONT style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Related Party Balances and Transactions</FONT></B></H4>

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

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

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 111%; MARGIN: 0in 21.3pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" 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></P>

<P style="MARGIN: 0.3pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="LINE-HEIGHT: 112%; TEXT-INDENT: 0in; MARGIN: 0in 21.3pt 0in 45pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(a)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Accounts receivable, interest on shareholders' equity payable, revenue and expenses with the S&#227;o Paulo State Government</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.1pt 0in 0pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

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<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" 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="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 30, 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>December 31, 2014</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Accounts receivable</FONT></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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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" color=black face=georgia>Current:</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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"><FONT style="FONT-SIZE: 9pt" 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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>99,138</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>96,162</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" color=black face=georgia>Allowance for losses</FONT></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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(47,732)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(45,333)</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="50%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Reimbursement for pension benefits (G0):</FONT></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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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 -10pt 0pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>- Monthly flow</FONT></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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>14,122</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>9,753</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 -10pt 0pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>- GESP Agreement &#8211; 2008 </FONT></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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>43,722</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>43,722</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" color=black face=georgia>&#8220;Se Liga na Rede&#8221; (Connect to the Network Program) (m)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>19,157</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>17,661</FONT></P></DIV></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" 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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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" color=black face=georgia>Total current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>128,407</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>121,965</FONT></P></DIV></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="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" 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="25%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" 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="25%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" 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" 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="25%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" 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" color=black face=georgia>Reimbursement for pension benefits (G0):</FONT></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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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 -10pt 0pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>- GESP Agreement &#8211; 2008 </FONT></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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>80,157</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>102,018</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="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in -10pt 0pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>- GESP Agreement &#8211; 2015 (b)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>609,110</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>-</FONT></P></DIV></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="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" 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="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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" color=black face=georgia>Total noncurrent</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>689,267</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>102,018</FONT></P></DIV></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="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" 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="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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" color=black face=georgia>Total receivables from shareholder</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>817,674</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>223,983</FONT></P></DIV></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="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" 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="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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" color=black face=georgia>Assets:</FONT></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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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" color=black face=georgia>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="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>51,406</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>50,829</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" color=black face=georgia>Reimbursement of additional retirement and pension benefits (G0)</FONT></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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>747,111</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>155,493</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"><I><FONT style="FONT-SIZE: 9pt" color=black face=georgia>&#8220;Se Liga na Rede&#8221;</FONT></I><FONT style="FONT-SIZE: 9pt" color=black face=georgia> (Connect to the Network Program) (m)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>19,157</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>17,661</FONT></P></DIV></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="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" 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="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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" color=black face=georgia>Total</FONT></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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>817,674</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>223,983</FONT></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="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" 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="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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" color=black face=georgia>Liabilities:</FONT></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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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" 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: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>126,805</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>107,784</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" color=black face=georgia>Others (h)</FONT></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 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,423</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,569</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt 45pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 36 of 76</FONT></P></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; VERTICAL-ALIGN: middle; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>April to June 2015</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>January to June 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>April to June 2014</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>January to June 2014</FONT></B></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Revenue from water and sewage services</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Water supply</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>47,678</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>89,907</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>56,772</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>116,701</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="41%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Sewage services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>40,407</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>78,973</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>50,202</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>103,268</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="41%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" 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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(82,716)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(160,502)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(113,589)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(220,923)</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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="41%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" 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" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(23,516)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(56,716)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(28,001)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(59,337)</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="LINE-HEIGHT: 112%; TEXT-INDENT: 0in; MARGIN: 0in 21.3pt 0in 45pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(b)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Agreement with the State Government of S&#227;o Paulo &#8220;GESP&#8221;</FONT></B></H4>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The first 24 installments of the agreement signed on March 18, 2015 were settled by transferring to SABESP 2,221,000 preferred shares issued by Companhia de Transmiss&#227;o de Energia El&#233;trica Paulista - CTEEP, totaling R$87,174, based on the share closing price on March 17, 2015</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>On May 12, 2015, the transfer of shares issued by CTEEP to SABESP was concluded in order to settle the first 24 installments of the agreement signed with the State government on March 18, 2015. As of June 30, CTEEP&#8217;s shares were recorded under &#8220;Financial assets held for trading&#8221;, for R$86,930, due to a reduction in its fair value, from thirty-nine reais and twenty-five centavos (R$39.25) on March 18, 2015 to thirty-nine reais and fourteen centavos (R$39.14) on June 30, 2015. The effect of this decrease was recorded under financial expenses and totaled R$244.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>On June 8, 2015, SABESP received dividends referring to the 2,221,000 shares, corresponding to R$0.686875 per share, totaling R$1,525.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>See additional information in Note 9 (b) to the interim financial information for the first quarter of 2015.</FONT></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: 0in; MARGIN: 4.15pt 35.6pt 0pt 45pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(c)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Contingent assets - GESP (not recorded)</FONT></B></H4>

<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 111%; MARGIN: 0in 21.3pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>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 style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 45.9pt" border=0 cellSpacing=0 cellPadding=0>



<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="50%">

   <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" 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="24%">

   <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" face=georgia>June 30, 2015</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%" face=georgia><B><FONT style="FONT-SIZE: 9pt" 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" face=georgia>December 31, 2014</FONT></B></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: 9pt" face=georgia>Disputed amounts receivable</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>815,175</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>783,422</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: 9pt" face=georgia>Undisputed amount referring to the transfer of two reservoirs at Alto Tiet&#234; System to SABESP (Note 9 (b))</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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: 9pt" face=georgia>Total</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>815,175</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>1,479,705</FONT></FONT></P></TD></TR></TABLE></DIV>

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<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.55pt; MARGIN: 7.05pt 0in 0pt 72.55pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(d)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>U</FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>se of reservoirs &#8211;</FONT></B><B><FONT style="LETTER-SPACING: -0.65pt; FONT-SIZE: 9.5pt" face=Georgia> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>EMAE</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 21.2pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" 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 style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The Company understands that no amounts are due for the use of these reservoirs given the grants already made. Should these reservoirs not be available for use to the Company, there could be the need to collect water in more distant places. There is a risk of not properly rendering services in the region, besides increasing water supply cost</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.2pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Several lawsuits were filed by EMAE. Currently, an arbitration proceeding is in progress related to the Guarapiranga reservoir and a lawsuit related to Billings reservoir, both pleading for financial compensation due to SABESP&#8217;s water collect for public supply, 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 style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.1pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" 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 style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>On April 10, 2014, we issued a Notice to the Market including the information about any future agreement. However, no adjustment was confirmed and no agreement was executed by either party up to date</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<H4 style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: 0in; MARGIN: 0in 21.15pt 0in 45pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(e)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Agreements with reduced tariffs with State and Municipal Government Entities that joined the Water Rational Use Program (PURA)</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.05pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" 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 water consumption.</FONT></P>

<P style="MARGIN: 0.55pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 4.15pt 0in 0pt 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(f)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Guarantees</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.2pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black 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: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -26.55pt; MARGIN: 0in 0in 0in 71.55pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(g)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Personnel assignment agreement among entities related to the State Government</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The Company has personnel assignment agreements with entities related to the State Government, whose expenses are fully passed on and monetarily reimbursed. From April to June 2015 and 2014, the expenses related to personnel assigned by SABESP to other state government entities amounted to R$2,469 and R$2,571, respectively. From January to June 2015 and 2014, expenses totaled R$5,431 and R$5,065, respectively</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 21.2pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>From April to June 2015 and 2014, expenses related to personnel assigned by other entities to SABESP totaled R$179 and R$113, respectively, while from January to June 2015 and 2014 totaled R$231 and R$209, respectively</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0in 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(h)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Services obtained from state government entities</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>On June 30, 2015 and December 31, 2014, SABESP had an outstanding amounts payable of R$2,423 and R$1,569, respectively, for services rendered by S&#227;o Paulo State Government entities</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0in 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(i)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Non-operating assets</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 21.2pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>As of June 30, 2015 and December 31, 2014, the Company had an amount of R$969 related to a free land lent to DAEE (Water and Electricity Department)</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.3pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.55pt; MARGIN: 0in 0in 0in 72.55pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(j)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Sabesprev</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.2pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The Company sponsors a private defined benefit pension plan, which is operated and administered by Sabesprev. The net actuarial liability recognized until June 30, 2015 amounted to R$704,413 (R$676,071 on December 31, 2014), as pension plan liabilities, according to Note 19 (b)</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0in 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(k)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Compensation of Management Key Personnel</FONT></B></H4>

<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Expenses related to the compensation to the members of its Board of Directors, Fiscal Council and Officers amounted to R$975 from April to June 2015 (R$837 from April to June 2014). From January to June 2015, these expenses totaled R$1,952 (R$1,749 from January to June 2014). An additional amount of R$144, related to the Officers&#8217; bonus program, was recorded from April to June 2015 (R$113 from April to June 2014). In the first half of 2015, said bonus amounted to R$285 (R$253 from January to June 2014)</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0in 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(l)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loan agreement through credit facility</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.05pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The Company holds interest in certain Special Purpose Entities (SPEs), not holding the majority interest but with cast vote and power of veto in some issues, with no ability to use such power of veto in a way to affect returns over investments. Therefore, these SPEs are considered for accounting purposes as jointly-owned subsidiaries</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P><FONT style="LINE-HEIGHT: 112%" face=calibri,sans-serif></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></FONT></DIV></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 21.1pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The Company entered into a loan agreement through credit facility with the SPEs Aquapolo Ambiental S/A and Attend Ambiental S/A to finance the operations of these companies, until the loans and financing requested with financial institutions is cleared</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 21.15pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The agreements executed with Aquapolo Ambiental S/A, on March 30, 2012 and Attend Ambiental S/A, on May 9, 2014, have the following characteristics</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

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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 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: 8pt" face=georgia>SPE</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 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: 8pt" face=georgia>Principal disbursed amount</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 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: 8pt" face=georgia>Interest balance</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 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: 8pt" face=georgia>Total</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 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: 8pt" face=georgia>Interest rate</FONT></B></P></DIV></TD>

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   <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: 8pt" face=georgia>Maturity</FONT></B></P></DIV></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=georgia>Attend Ambiental</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>5,400</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>1,063</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>6,463</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=georgia>SELIC + 3.5 % p.a.</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=georgia>(i)</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=georgia>Aquapolo Ambiental</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>5,629</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>3,660</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>9,289</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=georgia>CDI + 1.2% p.a.</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=georgia>4/30/2016</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=georgia>Aquapolo Ambiental</FONT></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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>19,000</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>11,389</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; 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; 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="FONT-SIZE: 8pt" face=georgia>30,389</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 16.45pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=georgia>CDI + 1.2% p.a.</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=georgia>10/30/2015</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=georgia>Total</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>30,029</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>16,112</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>46,141</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" face=georgia></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.05pt 0in 0pt"><FONT style="FONT-SIZE: 3pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: -0.25in; MARGIN: 4.15pt 21.1pt 0pt 63pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(i)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The loan agreement with SPE Attend Ambiental S/A matures within 180 days, from the date when the respective amount is available in the borrower&#8217;s account, renewable for the same period. A portion of the loan has been overdue since May 11, 2015 and is subject to contractual charges (inflation adjustment considering the IGP-M variation, 2% fine and default interest of 1% p.m.). The agreement is being renegotiated between the parties</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The amount disbursed is recognized in current assets under &#8220;Other Receivables&#8221; and amounts to R$30,029 for principal and R$16,112 for interest. As of June 30, 2015, the balance of principal and interest rates of these agreements is R$46,141 (R$40,366 on December 31, 2014). In the period between January and June 2015, financial income recognized was R$5,775 (R$2,580 from January to June 2014</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>).</FONT></P>

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<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0in 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(m)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Se Liga na Rede (Connect to the Network Program)</FONT></B></H4>

<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" 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, except for indirect costs, construction margin and borrowing costs 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 June 30, 2015, the program total amount was R$78,127 (R$67,576 on December 31, 2014), R$19,157 (R$17,661 on December 31, 2014) recorded in balances receivable from related parties, the amount of R$33,917 (R$24,862 on December 31, 2014) recorded in the group of intangible assets and R$25,053 (R$25,053 on December 31, 2014) reimbursed by GESP</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.3pt 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.55pt; MARGIN: 0in 35.6pt 0in 45pt"><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>10</FONT></B><B><FONT style="FONT-SIZE: 7pt" 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: 9.5pt" color=black face=Georgia>Water National Agency - ANA</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 21.25pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" 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 style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>".</FONT></P>

<P style="MARGIN: 0.35pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" 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 agreement</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 21.1pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>When resources are made available, liabilities are recorded until funds are released by ANA. After the evidence of targets stipulated in each contract, the revenue deriving from these funds is recognized, but if these targets are not met, funds will return to the National Treasury with the appropriate funds earnings. On June 30, 2015, the balances of assets and liabilities were R$127,855 (R$122,634 on December 31, 2014), and the liabilities are recorded under "Other liabilities" of noncurrent liabilities</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P><FONT style="LINE-HEIGHT: 112%" face=georgia></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 0in 37.15pt 0in 45pt"><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>11</FONT></B><B><FONT style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Investments</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.2pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The Company holds interest in certain Special Purpose Entities (SPE). Although SABESP has no majority shares of its investees, the shareholders&#8217; agreement provides for the power of veto in certain management issues, with no ability to use such power of veto in a way to affect returns over investments, indicating participating shared control (joint venture &#8211; CPC 19 (R2)</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>).</FONT></P>

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<P style="LINE-HEIGHT: 230%; MARGIN: 0in 65.7pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The Company measures investments under the equity method.</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.2pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>See information on the operations of each investee in Note 12 to the Annual Financial Statements as of December 31, 2014.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.2pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Events in the second quarter of 2015:</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -2.45pt; MARGIN: 0in 0in 0pt 45pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=PT-BR color=black face=georgia>(a)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=PT-BR color=black face="times new roman">&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=PT-BR color=black face=georgia>Paulista Geradora de Energia S/A</FONT></B></FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 22.5pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>On April 13, 2015, the Company acquired shares of Empresa Paulista Geradora de Energia S/A - PGE, jointly with Servtec Investimentos e Participa&#231;&#245;es Ltda ("Servtec&#8221;) and Tecniplan Engenharia e Com&#233;rcio Ltda ("Tecniplan"), with operational purpose is implementation and commercial exploration of water potential in small hydroelectric power plants (PCHs), located at the Guara&#250; and Vertedouro Cascata Water Treatment Stations.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 22.5pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>As of June 30, 2015, the capital stock of Paulista Geradora de Energia totaled R$8,679, and was represented by 8,679,040 registered common shares without a par value. SABESP holds 25% of its equity interest.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 22.5pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>As of June 30, 2015, operations had not started yet.</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -2.45pt; MARGIN: 0in 0in 0pt 45pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>(b)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&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>Summary of financial information on the investees:</FONT></B></FONT></P>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>Sesamm</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: 8pt" face=georgia>29,806</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: 8pt" face=georgia>(92)</FONT></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="15%" noWrap>

   <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" face=georgia>3,110</FONT></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="15%" noWrap>

   <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" face=georgia>2,373</FONT></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="23%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>&#193;guas de Andradina</FONT></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="15%" noWrap>

   <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" face=georgia>5,189</FONT></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="16%" noWrap>

   <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" face=georgia>4,582</FONT></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="16%">

   <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" face=georgia>(228)</FONT></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="15%" noWrap>

   <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" face=georgia>835</FONT></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="15%" noWrap>

   <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" face=georgia>124</FONT></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="23%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>&#193;guas de Castilho</FONT></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="15%" noWrap>

   <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" face=georgia>2,966</FONT></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="16%" noWrap>

   <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" face=georgia>2,866</FONT></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="16%">

   <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" face=georgia>(190)</FONT></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="15%" noWrap>

   <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" face=georgia>290</FONT></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="15%" noWrap>

   <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" face=georgia>360</FONT></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="23%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>Saneaqua Mairinque</FONT></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="15%" noWrap>

   <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" face=georgia>2,898</FONT></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="16%" noWrap>

   <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" face=georgia>2,697</FONT></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="16%">

   <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" face=georgia>(282)</FONT></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="15%" noWrap>

   <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" face=georgia>483</FONT></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="15%" noWrap>

   <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" face=georgia>134</FONT></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="23%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>Attend Ambiental</FONT></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="15%" noWrap>

   <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" face=georgia>1,854</FONT></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="16%" noWrap>

   <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" face=georgia>(111)</FONT></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="16%">

   <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" face=georgia>-</FONT></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="15%" noWrap>

   <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" face=georgia>1,965</FONT></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="15%" noWrap>

   <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" face=georgia>(1,627)</FONT></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="23%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>Aquapolo Ambiental</FONT></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="15%" noWrap>

   <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" face=georgia>13,297</FONT></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="16%" noWrap>

   <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" face=georgia>16,220</FONT></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="16%">

   <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" face=georgia>-</FONT></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="15%" noWrap>

   <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" face=georgia>(2,924)</FONT></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="15%" noWrap>

   <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" face=georgia>(1,278)</FONT></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="23%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>Paulista Geradora de Energia</FONT></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="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; 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><FONT style="FONT-SIZE: 8pt" face=georgia>8,603</FONT></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="16%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; 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><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></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="16%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; 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><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></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="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; 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><FONT style="FONT-SIZE: 8pt" face=georgia>(20)</FONT></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="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; 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><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></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="23%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>Total</FONT></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="15%" noWrap>

   <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" face=georgia>64,613</FONT></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="16%" noWrap>

   <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" face=georgia>53,042</FONT></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="16%">

   <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" face=georgia>(792)</FONT></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="15%" noWrap>

   <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" face=georgia>3,739</FONT></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="15%" noWrap>

   <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" face=georgia>86</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-INDENT: 45pt; MARGIN: 0.1pt 0in 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.1pt 0in 0pt"><B><FONT style="FONT-SIZE: 1.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 1pt; MARGIN: 0in 0in 0pt 153.5pt"><FONT style="LETTER-SPACING: 2.55pt; FONT-SIZE: 1pt" lang=EN-US face="times new roman">&nbsp;</FONT><FONT style="LETTER-SPACING: 2.6pt; FONT-SIZE: 1pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT></P>

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

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 44pt" border=0 cellSpacing=0 cellPadding=0>



<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="20%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 1pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 8pt" face=georgia>Company</FONT></B></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="22%" colSpan=2>

   <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 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: 8pt" face=georgia>Investments</FONT></B></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="14%">

   <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 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: 8pt" face=georgia></FONT></B></FONT>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 1pt 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: 8pt" face=georgia>Distributed dividends</FONT></B></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="23%" colSpan=2>

   <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 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: 8pt" face=georgia>Equity in the earnings of subsidiaries</FONT></B></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="21%" colSpan=2>

   <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 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: 8pt" face=georgia>Interest percentage</FONT></B></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="20%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; 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; LINE-HEIGHT: 110%; MARGIN: 1pt 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: 7.5pt" face=georgia>&nbsp; June 30, 2015</FONT></B></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="12%">

   <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 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: 7.5pt" face=georgia>December 31, 2014</FONT></B></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="14%">

   <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 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: 7.5pt" face=georgia>June 30, 2015</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <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 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: 7.5pt" face=georgia></FONT></B></FONT>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 1pt 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: 7.5pt" face=georgia>June 30, 2015</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top 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: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 1pt 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: 7.5pt" face=georgia></FONT></B></FONT>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 1pt 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: 7.5pt" face=georgia>June 30, 2014</FONT></B></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%">

   <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 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: 7.5pt" face=georgia>June 30, 2015</FONT></B></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="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: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 1pt 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: 7.5pt" face=georgia>December 31, 2014</FONT></B></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="20%" noWrap>&nbsp;</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>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia></FONT></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="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</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>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>&nbsp;</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="20%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>Sesamm</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>10,731</FONT></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="12%" noWrap>

   <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" face=georgia>9,644</FONT></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="14%">

   <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" face=georgia>(33)</FONT></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="12%" noWrap>

   <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" face=georgia>1,120</FONT></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="11%" noWrap>

   <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" face=georgia>854</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>36%</FONT></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="11%" noWrap>

   <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" face=georgia>36%</FONT></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="20%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>&#193;guas de Andradina</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>1,557</FONT></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="12%" noWrap>

   <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" face=georgia>1,375</FONT></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="14%">

   <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" face=georgia>(69)</FONT></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="12%" noWrap>

   <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" face=georgia>251</FONT></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="11%" noWrap>

   <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" face=georgia>37</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>30%</FONT></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="11%" noWrap>

   <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" face=georgia>30%</FONT></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="20%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>&#193;guas de Castilho</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>890</FONT></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="12%" noWrap>

   <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" face=georgia>860</FONT></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="14%">

   <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" face=georgia>(57)</FONT></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="12%" noWrap>

   <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" face=georgia>87</FONT></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="11%" noWrap>

   <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" face=georgia>108</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>30%</FONT></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="11%" noWrap>

   <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" face=georgia>30%</FONT></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="20%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>Saneaqua Mairinque</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>868</FONT></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="12%" noWrap>

   <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" face=georgia>809</FONT></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="14%">

   <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" face=georgia>( 85)</FONT></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="12%" noWrap>

   <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" face=georgia>144</FONT></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="11%" noWrap>

   <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" face=georgia>40</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>30%</FONT></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="11%" noWrap>

   <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" face=georgia>30%</FONT></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="20%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>Attend Ambiental</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>834</FONT></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="12%" noWrap>

   <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" face=georgia>-</FONT></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="14%">

   <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" face=georgia>-</FONT></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="12%" noWrap>

   <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" face=georgia>834</FONT></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="11%" noWrap>

   <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" face=georgia>(732)</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>45%</FONT></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="11%" noWrap>

   <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" face=georgia>45%</FONT></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="20%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>Aquapolo Ambiental</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>6,516</FONT></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="12%" noWrap>

   <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" face=georgia>7,948</FONT></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="14%">

   <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" face=georgia>-</FONT></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="12%" noWrap>

   <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" face=georgia>(1,432)</FONT></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="11%" noWrap>

   <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" face=georgia>(626)</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>49%</FONT></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="11%" noWrap>

   <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" face=georgia>49%</FONT></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="20%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>Paulista Geradora de Energia</FONT></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>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; 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><FONT style="FONT-SIZE: 8pt" face=georgia>2,151</FONT></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="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; 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><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></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="14%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; 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><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></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="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; 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><FONT style="FONT-SIZE: 8pt" face=georgia>(5)</FONT></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="11%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; 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><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></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>

   <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" face=georgia>25%</FONT></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="11%" noWrap>

   <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" face=georgia>-</FONT></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="20%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>Total</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>23,547</FONT></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="12%" noWrap>

   <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" face=georgia>20,636</FONT></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="14%">

   <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" face=georgia>(244)</FONT></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="12%" noWrap>

   <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" face=georgia>999</FONT></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="11%" noWrap>

   <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" face=georgia>(319)</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia></FONT></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="11%" noWrap>

   <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" face=georgia></FONT></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="20%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>Other investments</FONT></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>

   <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><FONT style="FONT-SIZE: 8pt" face=georgia>587</FONT></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="12%" 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: 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><FONT style="FONT-SIZE: 8pt" face=georgia>587</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="14%">

   <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" face=georgia></FONT></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="12%" noWrap>

   <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" face=georgia></FONT></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="11%" noWrap>

   <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" face=georgia></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia></FONT></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="11%" noWrap>

   <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" face=georgia></FONT></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="20%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia></FONT></FONT>&nbsp;</P>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>Overall total</FONT></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>

   <DIV style="BORDER-BOTTOM: windowtext 2.25pt 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: 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><FONT style="FONT-SIZE: 8pt" face=georgia>24,134</FONT></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="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 2.25pt 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: 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><FONT style="FONT-SIZE: 8pt" face=georgia>21,223</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=top width="14%">

   <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" face=georgia></FONT></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="12%" noWrap>

   <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" face=georgia></FONT></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="11%" noWrap>

   <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" face=georgia></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia></FONT></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="11%" noWrap>

   <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" face=georgia></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.55pt 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 4.15pt 37.15pt 0pt 45pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>12</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" 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: 9.5pt" color=black face=Georgia>Investment properties</FONT></B></H4>

<P style="MARGIN: 0.55pt 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.05pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>On June 30, 2015, the balance of &#8220;Investment properties&#8221; is R$61,549 (R$54,039 on December 31, 2014). On June 30, 2015 and December 31, 2014, the market value of these properties is approximately R$415,000 and R$350,000, respectively</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.05pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 45.9pt" border=0 cellSpacing=0 cellPadding=0>



<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="23%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black 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="16%">

   <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: 12pt; 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="FONT-SIZE: 9pt" color=black face=georgia>December 31, 2014</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <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: 12pt; 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="FONT-SIZE: 9pt" color=black face=georgia>Transfers</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <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: 12pt; 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="FONT-SIZE: 9pt" color=black face=georgia>Write-offs and disposals</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <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: 12pt; 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="FONT-SIZE: 9pt" color=black face=georgia>Depreciation</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; 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: 12pt; 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="FONT-SIZE: 9pt" color=black face=georgia>June 30, 2015</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black 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="23%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Investment properties</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="16%">

   <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: 12pt; 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="FONT-SIZE: 9pt" color=black face=georgia>54,039</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <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: 12pt; 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="FONT-SIZE: 9pt" color=black face=georgia>10,592</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <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: 12pt; 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="FONT-SIZE: 9pt" color=black face=georgia>(1,320)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <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: 12pt; 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="FONT-SIZE: 9pt" color=black face=georgia>(1,762)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; 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: 12pt; 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="FONT-SIZE: 9pt" color=black face=georgia>61,549</FONT></P></DIV></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="23%">

   <P style="LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Total</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="16%">

   <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: 12pt; 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="FONT-SIZE: 9pt" color=black face=georgia>54,039</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <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: 12pt; 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="FONT-SIZE: 9pt" color=black face=georgia>10,592</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <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: 12pt; 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="FONT-SIZE: 9pt" color=black face=georgia>(1,320)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <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: 12pt; 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="FONT-SIZE: 9pt" color=black face=georgia>(1,762)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <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: 12pt; 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="FONT-SIZE: 9pt" color=black face=georgia>61,549</FONT></P></DIV></TD></TR></TABLE></DIV>

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   <TD width="85%">

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV>

<DIV align=left><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</DIV></DIV>

<P style="MARGIN: 0.05pt 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 4.15pt 37.15pt 0pt 45pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>13</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" 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: 9.5pt" color=black face=Georgia>Intangible Assets</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -27.65pt; MARGIN: 0in 35.6pt 0pt 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(a)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>Balance sheet balances</FONT></B></P>

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

<P style="MARGIN: 0.55pt 0in 0pt"><B><FONT style="FONT-SIZE: 13pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 13.5pt" 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="34%" 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: 7.5pt" 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="33%" colSpan=3 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>June 30, 2015</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" colSpan=3 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>December 31, 2014</FONT></B></FONT></P></DIV></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="34%" 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: 8pt" 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="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Cost</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Accumulated</FONT></B></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif> </FONT></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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>amortization</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Net</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Cost</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Accumulated</FONT></B></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 8pt" face=Calibri,sans-serif> </FONT></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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>amortization</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Net</FONT></B></FONT></P></DIV></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="34%" 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: 8pt" color=black face=georgia>Intangible right arising from:</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" 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" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" 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" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" 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" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" 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="34%" 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: 8pt" color=black face=georgia>Agreements &#8211; equity value</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>8,971,893</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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(1,644,910)</FONT></FONT></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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>7,326,983</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>8,983,492</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(1,614,221)</FONT></FONT></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" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>7,369,271</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="34%" 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: 8pt" color=black face=georgia>Concession agreements &#8211; economic value</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>1,760,584</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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(434,412)</FONT></FONT></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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>1,326,172</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,679,042</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(397,782)</FONT></FONT></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" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,281,260</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="34%" 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: 8pt" color=black face=georgia>Program contracts</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>7,993,548</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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(2,118,694)</FONT></FONT></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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>5,874,854</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>7,338,985</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(1,959,832)</FONT></FONT></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" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>5,379,153</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="34%" 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: 8pt" color=black face=georgia>Program contracts&#8211; commitments</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>871,266</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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(119,570)</FONT></FONT></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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>751,696</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>808,662</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(105,753)</FONT></FONT></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" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>702,909</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="34%" 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: 8pt" color=black face=georgia>Services contracts&#8211; S&#227;o Paulo</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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>13,640,819</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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(2,169,702)</FONT></FONT></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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>11,471,117</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>12,916,939</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(1,930,553)</FONT></FONT></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" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>10,986,386</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="34%" 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: 8pt" color=black face=georgia>Software licenses</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>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>379,518</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>(87,118)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>292,400</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>326,045</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(65,498)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>260,547</FONT></FONT></P></DIV></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="34%" 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: 8pt" 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="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>33,617,628</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>(6,574,406)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>27,043,222</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>32,053,165</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(6,073,639)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>25,979,526</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 4.35pt 35.6pt 0pt 264.7pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 1.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

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

<P style="MARGIN: 0.55pt 0in 0pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<H4 style="TEXT-INDENT: -27.6pt; MARGIN: 0in 35.6pt 0pt 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(b)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Changes</FONT></B></H4>

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

<P style="MARGIN: 0.2pt 0in 0pt"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 17pt" 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="17%" 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: 7.5pt" color=black face=georgia></FONT></B></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: 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 7.5pt" color=black face=georgia>December 31,</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%" color=black face=georgia><B><FONT style="FONT-SIZE: 7.5pt" color=black face=georgia>2014</FONT></B></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="9%">

   <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%" color=black face=georgia><B><FONT style="FONT-SIZE: 7.5pt" color=black face=georgia>Additions</FONT></B></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; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 7.5pt" color=black face=georgia>Contract </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 7.5pt" color=black face=georgia>renewal</FONT></B></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; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 7.5pt" color=black face=georgia>Provision </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 7.5pt" color=black face=georgia>for losses</FONT></B></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="12%">

   <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%" color=black face=georgia><B><FONT style="FONT-SIZE: 7.5pt" color=black face=georgia>Transfers</FONT></B></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; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 7.5pt" color=black face=georgia>Write-offs </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 7.5pt" color=black face=georgia>and </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 7.5pt" color=black face=georgia>disposals</FONT></B></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="12%">

   <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%" color=black face=georgia><B><FONT style="FONT-SIZE: 7.5pt" color=black face=georgia>Amortization</FONT></B></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; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 7.5pt" color=black face=georgia>June 30,</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%" color=black face=georgia><B><FONT style="FONT-SIZE: 7.5pt" color=black face=georgia>&nbsp;2015</FONT></B></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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Intangible assets arising from: </FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black 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="9%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black 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="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black 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="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black 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=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black 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="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black 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="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black 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="10%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Concession agreements &#8211; equity value </FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>7,369,271</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>136,429</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(23,680)</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(5,716)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>307</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(88)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(149,540)</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>7,326,983</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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Concession agreements &#8211; economic value </FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,281,260</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>81,617</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>18</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(11)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(36,712)</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,326,172</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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Program contracts </FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>5,379,153</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>513,513</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>23,680 </FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>1,130</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(138)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(42,484)</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>5,874,854</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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Program contracts &#8211; commitments </FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>702,909</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>62,605 </FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(13,818)</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>751,696</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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Services contracts &#8211; S&#227;o Paulo</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>10,986,386</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>749,330</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>8,648</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(16,148)</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(1,830)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(255,269)</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>11,471,117</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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Software licenses</FONT></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>

   <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: 2.4pt 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>260,547</FONT></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="9%">

   <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: 2.4pt 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><FONT style="FONT-SIZE: 8pt" face=georgia>53,471</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 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><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 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><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></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="12%">

   <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: 2.4pt 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><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 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><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></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="12%" 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: 2.4pt 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><FONT style="FONT-SIZE: 8pt" face=georgia>(21,618)</FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>292,400</FONT></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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Total </FONT></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>

   <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 1pt; 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: 8pt" color=black face=georgia>25,979,526</FONT></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="9%">

   <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 1pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>1,596,965</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 1pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 1pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>2,932</FONT></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="12%">

   <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 1pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>(14,693)</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 1pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>(2,067)</FONT></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="12%" 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: 0in 0in 1pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>(519,441)</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 1pt; 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: 8pt" color=black face=georgia>27,043,222</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>In the second quarter of 2015, the Company renewed program contracts with the municipalities of Barueri and Mairipor&#227; for a 30-year term.</FONT></P>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 42 of 76</FONT></P></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -27.6pt; MARGIN: 4.15pt 35.6pt 0pt 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(c)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Construction services</FONT></B></H4>

<P style="MARGIN: 0.4pt 0in 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 40.5pt" 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="22%" 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" 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="39%" colSpan=3 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>From April to June 2015</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="39%" colSpan=3>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>From January to June 2015</FONT></B></FONT></P></DIV></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="22%" 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" 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="13%" 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><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Water supply</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" 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><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Sewage services</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Total </FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Water supply</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Sewage services</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Total </FONT></B></FONT></P></DIV></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="22%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>551,489</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>353,271</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>904,760</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>855,993</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>637,233</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,493,226</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="22%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Construction costs incurred</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>539,777</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>345,446</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>885,223</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>838,373</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>623,226</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,461,599</FONT></FONT></P></DIV></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="22%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>11,712</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>7,825</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>19,537</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>17,620</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>14,007</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>31,627</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 4.25pt 214.1pt 0pt 213.35pt" align=center><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 2pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

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

<P style="MARGIN: 0.05pt 0in 0pt"><B><FONT style="FONT-SIZE: 13pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 0.5in" 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="22%" 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" 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="39%" colSpan=3 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>From April to June 2014</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="39%" colSpan=3>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>From January to June 2014</FONT></B></FONT></P></DIV></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="22%" 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" 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="13%" 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><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Water supply</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" 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><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Sewage services</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Total </FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Water supply</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Sewage services</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Total </FONT></B></FONT></P></DIV></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="22%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>280,864</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>397,885</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>678,749</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>498,964</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>711,012</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,209,976</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="22%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Construction costs incurred</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>275,048</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>389,169</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>664,217</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>489,186</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>695,503</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,184,689</FONT></FONT></P></DIV></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="22%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>5,816</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>8,716</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>14,532</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>9,778</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>15,509</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>25,287</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 2pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.25pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 4.15pt 0in 0pt 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(d)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>General information</FONT></B></H4>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.05pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>During the period ended June 30, 2015 there were no relevant changes in the criteria to account for intangible assets and types of contracts. See further information in Note 14 (d) to the Financial Statements as of December 31, 2014</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The Company has obligations recorded in &#8220;Program Contract&#8211; Commitments&#8221; in current liabilities in the amount of R$201,762 and R$189,551 on June 30, 2015 and December 31, 2014, respectively, and noncurrent liabilities in the amount of R$41,790 and R$18,208 on June 30, 2015 and December 31, 2014, respectively. The increase in balance results from the signature of new program contracts, as previously disclosed</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0in 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(e)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Capitalization of interest and other financial charges</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.05pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>From January to June 2015, the Company capitalized interest and inflation adjustment, including related foreign currency exchange effects, in concession intangible assets totaling R$148,021 (R$74,718 from January to June 2014), during the period in which assets were recorded as works in progress</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0in 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(f)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Construction margin</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.25pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" 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 style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.25pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" 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 June 30, 2015 and 2014 the margin was 2.3%</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 21.25pt 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The construction margin for the second quarter of 2015 and 2014 was R$19,537 and R$14,532, respectively, and for the first half of 2015 and 2014 was R$31,627 and R$25,287, respectively</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.55pt; MARGIN: 0in 0in 0in 72.55pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(g)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Expropriations</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.1pt 0pt 44.95pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>As a result of the construction of priority projects related to water and sewage systems, the Company was required to expropriate third-parties' properties, and the owners of these properties will be compensated either amicably or through courts</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.3pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The assets received as a result of expropriations are recorded as concession intangible assets. From April to June 2015, the total amount related to expropriations was R$32,079 (R$3,559 from April to June 2014), and from January to June 2015 totaled R$38,841 (R$7,526 from January to June 2014</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>).</FONT></P><FONT style="LINE-HEIGHT: 112%" face=georgia></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.3pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

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<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.55pt; MARGIN: 0in 0in 0in 72.55pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(h)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Public-Private-Partnership -</FONT></B><B><FONT style="LETTER-SPACING: -0.35pt; FONT-SIZE: 9.5pt" face=Georgia> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>PPP</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Alto Tiet&#234; Production System</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>As of June </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>30, 2015 and December 31, 2014, </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>the amounts recognized as intangible asset related to PPP were</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia> R$398,861 and R$404,447, respectively</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.15pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The discount rate of 8.06% p.a. was adopted in the first half of 2015 to calculate this agreement&#8217;s present value. The obligations assumed by the Company on June 30, 2015 and December 31, 2014 are shown in the table below.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>S&#227;o Louren&#231;o Production System</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.05pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>As of June </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>30, 2015 and December 31, 2014, the carrying amounts recorded in the Company&#8217;s intangible assets related to this PPP were R$213,448 and R$22,756, respectively.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.05pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.05pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The obligations assumed by the Company on June 30, 2015 and December 31, 2014 are shown in the table below, and the increase in the balances of liabilities and intangible assets were due to the progress of the works in 2015</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.05pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>The following table shows the liabilities balances related to these intangible assets:</FONT></P>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <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" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <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" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <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" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <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" color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Alto Tiet&#234;</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <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" color=black face=georgia>38,977</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <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" color=black face=georgia>295,729</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <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" color=black face=georgia>334,706</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <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" color=black face=georgia>38,047</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <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" color=black face=georgia>307,991</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <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" color=black face=georgia>346,038</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>S&#227;o Louren&#231;o</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>208,649</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>208,649</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>22,245</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>22,245</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <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" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <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" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <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" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <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" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <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" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <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" color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <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" color=black face=georgia>38,977</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <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" color=black face=georgia>504,378</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <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" color=black face=georgia>543,355</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <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" color=black face=georgia>38,047</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <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" color=black face=georgia>330,236</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <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" color=black face=georgia>368,283</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.05pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.1pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 21.1pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>See additional information in Note 14 (h) to the Financial Statements for the fiscal year ended December 31, 2014.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 21.1pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.55pt; MARGIN: 4.15pt 0in 0pt 72.55pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(i)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Works in progress</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.2pt 0in 45pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The amount of R$6,023 million is recorded as intangible assets from works in progress on June 30, 2015 (R$5,180 million on December 31, 2014), and on June 30, 2015, most of works are located in the municipalities of S&#227;o Paulo, Praia Grande and S&#227;o Jos&#233; dos Campos, totaling R$2,820 million, R$287 million and R$170 million, respectively</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.55pt; MARGIN: 0in 0in 0in 72.55pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(j)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Amortization of intangible assets</FONT></B></H4>

<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 45pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The amortization average rate totaled 3.8% and 3.9% on June 30, 2015 and 2014, respectively</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.5pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.55pt; MARGIN: 0in 0in 0in 72.55pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(k)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Software license of use</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 21.1pt 0in 45pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" 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), which includes the administrative/financial module and the commercial module. The project is in progress</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt">&nbsp;</P><FONT style="LINE-HEIGHT: 5%"></FONT>

<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 44 of 76</FONT></P></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0.4pt 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.4pt 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: 0in; MARGIN: 0in 35.6pt 0pt 10.45pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Property, Plant and Equipment</FONT></B></H4>

<P style="MARGIN: 0.4pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0pt 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(a)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>Balance sheet balances</FONT></B></P>

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

<P style="MARGIN: 0.2pt 0in 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 31.5pt" 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="22%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 8pt" 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="39%" colSpan=3 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 8pt" face=georgia>June 30, 2015</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="39%" colSpan=3 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 8pt" face=georgia>December 31, 2014</FONT></B></FONT></P></DIV></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="22%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 8pt" 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="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 8pt" face=georgia>Cost</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Accumulated</FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 8pt" face=georgia> </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: 8pt" face=georgia>depreciation</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 8pt" face=georgia>Net</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 8pt" face=georgia>Cost</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Accumulated</FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 8pt" face=georgia> </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: 8pt" face=georgia>depreciation</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 8pt" face=georgia>Net</FONT></B></FONT></P></DIV></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="22%" noWrap>

   <P style="LINE-HEIGHT: 95%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 95%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" 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="13%" 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" face=georgia>101,565</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>101,565</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>100,533</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>100,533</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="22%" noWrap>

   <P style="LINE-HEIGHT: 95%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 95%" face=georgia><FONT style="FONT-SIZE: 8pt" 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="13%" 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" face=georgia>79,224</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(32,680)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>46,544</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>74,235</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(31,720)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>42,515</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="22%" noWrap>

   <P style="LINE-HEIGHT: 95%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 95%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" 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="13%" 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" face=georgia>303,036</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(159,322)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>143,714</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>299,921</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(152,999)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>146,922</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="22%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" 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="13%" 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" face=georgia>13,240</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(6,559)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>6,681</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>14,051</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(6,438)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>7,613</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="22%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Furniture and fixtures</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>18,668</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(9,887)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>8,781</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>16,556</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>(9,432)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>7,124</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="22%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>Other</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>428</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>(279)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>149</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>688</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>(550)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>138</FONT></FONT></P></DIV></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="22%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" 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="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>516,161</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>(208,727)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>307,434</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>505,984</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>(201,139)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>304,845</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 35.6pt 0pt 217.1pt"><B><FONT style="FONT-SIZE: 1.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 1.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.55pt 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<H4 style="TEXT-INDENT: -27.6pt; MARGIN: 4.15pt 35.6pt 0pt 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(b)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Changes</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 31.5pt" 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="22%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 7pt" face=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>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 7pt" color=black face=georgia>December 31, 2014</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 0in; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 7pt" color=black face=georgia>Additions</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 7pt" color=black face=georgia>Transfers</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 7pt" color=black face=georgia>Write-offs and disposals</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 7pt" color=black face=georgia>Depreciation</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 7pt" color=black face=georgia>June 30, 2015</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="22%" noWrap>

   <P style="MARGIN: 0.25pt 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" face=georgia></FONT></B>&nbsp;</P>

   <P style="MARGIN: 0in 0in 0pt 2.75pt"><FONT style="FONT-SIZE: 8pt" face=georgia>Land</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>100,533</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>1,032</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>101,565</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=top width="22%" noWrap>

   <P style="MARGIN: 3.75pt 0in 0pt 2.75pt"><FONT style="FONT-SIZE: 8pt" face=georgia>Buildings</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>42,515</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>1,383</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>3,326</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>(680)</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>46,544</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=top width="22%" noWrap>

   <P style="MARGIN: 3.75pt 0in 0pt 2.75pt"><FONT style="FONT-SIZE: 8pt" face=georgia>Equipment</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>146,922</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>11,732</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>(333)</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>(95)</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>(14,512)</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>143,714</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=top width="22%" noWrap>

   <P style="MARGIN: 3.75pt 0in 0pt 2.75pt"><FONT style="FONT-SIZE: 8pt" face=georgia>Transportation equipment</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>7,613</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>135</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>(547)</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>(520)</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>6,681</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=top width="22%" noWrap>

   <P style="MARGIN: 3.75pt 0in 0pt 2.75pt"><FONT style="FONT-SIZE: 8pt" face=georgia>Furniture and fixtures </FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>7,124</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>1,639</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>(9)</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>(475)</FONT></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: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>8,781</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=top width="22%" noWrap>

   <P style="MARGIN: 4.5pt 0in 0pt 2.75pt"><FONT style="FONT-SIZE: 8pt" face=georgia>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>138</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 0in; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>16</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>(5)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>149</FONT></P></DIV></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="22%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" face=georgia>Total</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>304,845</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>14,784</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>4,101</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>(104)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>(16,192)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 0in; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>307,434</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.2pt 0in 0pt"><B><FONT style="FONT-SIZE: 13.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -27.6pt; MARGIN: 4.15pt 35.6pt 0pt 72.6pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(c)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>Depreciation</FONT></B></P>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 35.6pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The Company annually revises the depreciation rates of: buildings - 2%; equipment- 10%; transportation equipment - 10% and furniture, fixture and equipment - 6.7%. Lands are not depreciated</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.35pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 35.6pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The depreciation average rate was 11.3% and 11.5%, on June 30, 2015 and 2014, respectively</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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

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

<P style="MARGIN: 0in 0in 0pt">&nbsp;</P><FONT style="LINE-HEIGHT: 5%"></FONT>

<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 45 of 76</FONT></P></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></FONT></DIV>

<P style="LINE-HEIGHT: 5%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 5%"><FONT style="FONT-SIZE: 1pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT>&nbsp;</P></DIV><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>&nbsp; </FONT>

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<H4 style="TEXT-INDENT: 0in; MARGIN: 0in 35.6pt 0pt 10.45pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans and Financing</FONT></B></H4>

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   <P style="MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>&nbsp;</FONT><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Loans and financing outstanding balance</FONT></B></P></TD>

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; 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=center><B><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>June 30, 2015</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: 2.4pt 0in; 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" color=black face=georgia>December 31, 2014</FONT></B></P></DIV></TD></TR>

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   <P style="MARGIN: 2.4pt 0in"><B><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Financial institution</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; 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" 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" 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" 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" color=black face=georgia>Noncurrent</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: 2.4pt 0in; 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" 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: 2.4pt 0in; 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" color=black face=georgia>Total</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" 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" 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" 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" color=black face=georgia>Noncurrent</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: 2.4pt 0in; 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" 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: 2.4pt 0in; 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" color=black face=georgia>Total</FONT></B></P></DIV></TD></TR>

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   <P style="MARGIN: 2.4pt 0in"><B><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Domestic currency</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" 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: 8.5pt" color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>10<SUP>th</SUP> issuance 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>38,901</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>179,740</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>218,641</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: 8.5pt" color=black face=georgia>38,027</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>187,352</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>225,379</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="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>12<SUP>th</SUP> issuance 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>45,450</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>408,415</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>453,865</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: 8.5pt" color=black face=georgia>45,450</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>431,174</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>476,624</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="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>14<SUP>th</SUP> issuance 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>37,850</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>219,068</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>256,918</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: 8.5pt" color=black face=georgia>37,038</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>239,192</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>276,230</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="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>15<SUP>th</SUP> issuance 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>94,819</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>702,652</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>797,471</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: 8.5pt" color=black face=georgia>94,819</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>761,497</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>856,316</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="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>16<SUP>th</SUP> issuance 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" 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: 8.5pt" color=black face=georgia>498,731</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>498,731</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="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>17<SUP>th</SUP> issuance 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>140,144</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>968,151</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>1,108,295</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: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>1,067,760</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>1,067,760</FONT></P></TD></TR>

<TR style="HEIGHT: 8.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>18<SUP>th</SUP> issuance debentures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>207,740</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>207,740</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>202,145</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.75pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>202,145</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="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>19<SUP>th</SUP> issuance 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>498,183</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>498,183</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: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>497,793</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>497,793</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="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>69,444</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>1,106,801</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>1,176,245</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: 8.5pt" color=black face=georgia>67,085</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>1,031,438</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>1,098,523</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="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" 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: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>16,309</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>57,082</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>73,391</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: 8.5pt" color=black face=georgia>16,309</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>65,237</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>81,546</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="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" 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: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>10,287</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>71,841</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>82,128</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: 8.5pt" color=black face=georgia>10,287</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>76,975</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>87,262</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="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" 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: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>4,249</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>33,205</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>37,454</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: 8.5pt" color=black face=georgia>4,068</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>35,318</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>39,386</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="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" 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: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>2,300</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>24,725</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>27,025</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: 8.5pt" color=black face=georgia>1,725</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>25,875</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>27,600</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="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" 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: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>20,783</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>181,548</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>202,331</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: 8.5pt" color=black face=georgia>20,183</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>186,374</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>206,557</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="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" 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: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>4,951</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>232,478</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>237,429</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: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>187,420</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>187,420</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="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>9,707</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>494,037</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>503,744</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: 8.5pt" color=black face=georgia>8,997</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>473,593</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>482,590</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="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Others</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>605</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>1,586</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>2,191</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: 8.5pt" color=black face=georgia>716</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>1,886</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>2,602</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="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Interest and 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="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: 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: 8.5pt" color=black face=georgia>86,391</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="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: 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: 8.5pt" 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="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: 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: 8.5pt" color=black face=georgia>86,391</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: 8.5pt" color=black face=georgia>125,011</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="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: 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: 8.5pt" 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="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: 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: 8.5pt" color=black face=georgia>125,011</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="45%" noWrap>

   <P style="MARGIN: 2.4pt 0in"><B><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Total in domestic currency</FONT></B></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>

   <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: 8.5pt" color=black face=georgia>582,190</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="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: 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: 8.5pt" color=black face=georgia>5,387,252</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="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: 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: 8.5pt" color=black face=georgia>5,969,442</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: 8.5pt" color=black face=georgia>968,446</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="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: 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: 8.5pt" color=black face=georgia>5,471,029</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="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: 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: 8.5pt" color=black face=georgia>6,439,475</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"></P>

<DIV align=left>&nbsp;</DIV>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 46 of 76</FONT></P></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV></DIV>

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

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P><FONT lang=EN-US><BR clear=all></FONT>

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   <P style="MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>&nbsp;</FONT><B><FONT style="FONT-SIZE: 9pt" 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: 17pt; 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: 2.4pt 0in; 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" color=black face=georgia>June 30, 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; 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: 2.4pt 0in; 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" color=black face=georgia>December 31, 2014</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 2.4pt 0in"><B><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Financial institution</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; 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" 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" color=black face=georgia>Current</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; 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" 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" color=black face=georgia>Noncurrent</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; 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: 2.4pt 0in; 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" 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: 2.4pt 0in; 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" color=black face=georgia>Total</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" 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" color=black face=georgia>Current</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; 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" 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" color=black face=georgia>Noncurrent</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; 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: 2.4pt 0in; 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" 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: 2.4pt 0in; 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" color=black face=georgia>Total</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 2.4pt 0in"><B><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Foreign currency</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" 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" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" 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" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" 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" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" 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" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" 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" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" 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="45%">

   <P style="MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Inter-American Development Bank - IDB 713 &#8211; US$62,744 thousand(US$75,293 thousand in December 2014)</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>77,867</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>116,802</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>194,669</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: 8.5pt" color=black face=georgia>66,664</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>133,329</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>199,993</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="45%">

   <P style="MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Inter-American Development Bank - IDB 896 &#8211; US$4,167 thousand(US$5,555 thousand in December 2014)</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>8,619</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>4,309</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>12,928</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: 8.5pt" color=black face=georgia>7,377</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>7,378</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>14,755</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="45%">

   <P style="MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Inter-American Development Bank - IDB 1212 &#8211; US$107,920 thousand(US$113,059 thousand in December 2014)</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>31,889</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>302,943</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>334,832</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: 8.5pt" color=black face=georgia>27,301</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>273,007</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>300,308</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="45%">

   <P style="MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Inter-American Development Bank - IDB 2202 &#8211; US$381,552 thousand(US$347,190 thousand in December 2014)</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>1,175,059</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>1,175,059</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: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>914,189</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>914,189</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="45%">

   <P style="MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>International Bank for Reconstruction and Development -IBRD &#8211; US$45,860 thousand (US$45,860 thousand in December 2014)</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>141,929</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>141,929</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: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>121,447</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>121,447</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="45%">

   <P style="MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Eurobonds &#8211; US$140,000 thousand (US$140,000 thousand in December 2014)</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>434,207</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>434,207</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: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>371,655</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>371,655</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="45%">

   <P style="MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Eurobonds &#8211; US$350,000 thousand (US$350,000 thousand in December 2014)</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>1,081,391</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>1,081,391</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: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>924,741</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>924,741</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="45%">

   <P style="MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>JICA 15 &#8211; </FONT><FONT style="FONT-SIZE: 8.5pt" face=georgia>&#165; </FONT><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>16,710,235 thousand (</FONT><FONT style="FONT-SIZE: 8.5pt" face=georgia>&#165;</FONT><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia> 17,286,450 thousand in December 2014)</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>29,283</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>395,324</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>424,607</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: 8.5pt" color=black face=georgia>25,619</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>358,659</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>384,278</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="45%">

   <P style="MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>JICA 18 &#8211; </FONT><FONT style="FONT-SIZE: 8.5pt" face=georgia>&#165; </FONT><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>15,024,320 thousand (</FONT><FONT style="FONT-SIZE: 8.5pt" face=georgia>&#165; </FONT><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>15,542,400 thousand in December 2014)</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>26,329</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>355,142</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>381,471</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: 8.5pt" color=black face=georgia>23,034</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>322,166</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>345,200</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="45%">

   <P style="MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>JICA 17 &#8211; </FONT><FONT style="FONT-SIZE: 8.5pt" face=georgia>&#165; </FONT><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>1,478,814 thousand (</FONT><FONT style="FONT-SIZE: 8.5pt" face=georgia>&#165;</FONT><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia> 1,029,992 thousand in December 2014)</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>37,064</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>37,064</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>22,437</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>22,437</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="45%">

   <P style="MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>JICA 19 &#8211; </FONT><FONT style="FONT-SIZE: 8.5pt" face=georgia>&#165; </FONT><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>18,641,178 thousand (</FONT><FONT style="FONT-SIZE: 8.5pt" face=georgia>&#165; </FONT><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>14,208,068 thousand in December 2014)</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>472,097</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>472,097</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: 8.5pt" 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="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>314,526</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>314,526</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="45%">

   <P style="MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>BID 1983AB &#8211; US$130,288 thousand (US$154,231 thousand in December 2014)</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>74,283</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>328,045</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>402,328</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: 8.5pt" color=black face=georgia>63,596</FONT></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" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>344,078</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>407,674</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="45%">

   <P style="MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Interest and 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="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: 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: 8.5pt" color=black face=georgia>29,411</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="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: 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: 8.5pt" 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="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: 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: 8.5pt" color=black face=georgia>29,411</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: 8.5pt" color=black face=georgia>25,089</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="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: 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: 8.5pt" 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="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: 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: 8.5pt" color=black face=georgia>25,089</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="45%" noWrap>

   <P style="MARGIN: 2.4pt 0in"><B><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Total in foreign currency</FONT></B></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>

   <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: 8.5pt" color=black face=georgia>277,681</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="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: 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: 8.5pt" color=black face=georgia>4,844,312</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="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: 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: 8.5pt" color=black face=georgia>5,121,993</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: 8.5pt" color=black face=georgia>238,680</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="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: 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: 8.5pt" color=black face=georgia>4,107,612</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="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: 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: 8.5pt" color=black face=georgia>4,346,292</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8.5pt" 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="45%">

   <P style="MARGIN: 2.4pt 0in"><B><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Total loans and financing</FONT></B></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>

   <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; 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: 8.5pt" color=black face=georgia>859,871</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="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: 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: 8.5pt" color=black face=georgia>10,231,564</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="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: 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: 8.5pt" color=black face=georgia>11,091,435</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 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; 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: 8.5pt" color=black face=georgia>1,207,126</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="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: 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: 8.5pt" color=black face=georgia>9,578,641</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="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: 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: 8.5pt" color=black face=georgia>10,785,767</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="100%" colSpan=7 noWrap>

   <P style="MARGIN: 2.4pt 0in"><I><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></I>&nbsp;</P>

   <P style="MARGIN: 2.4pt 0in"><I><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></I>&nbsp;</P>

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Current exchange rates on June 30, 2015 were US$3,1026; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8.5pt" face=georgia>&#165; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>0.025410 (US$2.6562; &#165; 0.022230 on December 31, 2014).</FONT></FONT></P>

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>On June 30, 2015, the Company did not record balances of loans and financing raised in 2014 to mature within 12 months.</FONT></FONT></P></TD></TR></TABLE></DIV>

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

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 47 of 76</FONT></P></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></FONT></DIV></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

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<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="44%" 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; 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"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Domestic currency</FONT></B></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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Guarantees</FONT></B></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; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Maturity</FONT></B></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="24%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Annual interest rates</FONT></B></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%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Inflation adjustment</FONT></B></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="44%" noWrap>

   <P style="MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" 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%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" 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: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" 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="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" 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" width="44%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=georgia>10<SUP>th</SUP> issuance debentures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>Own funds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>2020</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" 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: 17pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" face=georgia>IPCA (series 2)</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" width="44%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=georgia>12<SUP>th</SUP>issuance debentures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>Own funds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>2025</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>TR + 9.5% </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" 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="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=georgia>14<SUP>th</SUP>issuance debentures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>Own funds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>2022</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" 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: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" face=georgia>IPCA (series 2)</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="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=georgia>15<SUP>th</SUP>issuance debentures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>Own funds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>2019</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" 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: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" face=georgia>IPCA (series 2)</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="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=georgia>17<SUP> th </SUP>issuance debentures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>Own funds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>2023</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>CDI +0.75 (series 1) and 4.5% (series 2) and+4.75% (series 3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" face=georgia>IPCA (series 2 and 3)</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="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=georgia>18<SUP>th </SUP>issuance debentures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>Own funds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>2024</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>TJLP + 1.92% (series 1 and 3) and 8.25% (series 2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" face=georgia>IPCA (series 2)</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="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=georgia>19<SUP>th </SUP>issuance debentures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>Own funds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>2017</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>CDI + 0.80% to 1.08%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" 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" width="44%" noWrap>

   <P style="MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" 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" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>Own funds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>2015/2037</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>5% to 9.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" face=georgia>TR</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" width="44%">

   <P style="TEXT-ALIGN: justify; TEXT-INDENT: -10.7pt; MARGIN: 0in 0in 0pt 10.7pt"><FONT style="FONT-SIZE: 8pt" face=georgia>Brazilian Development Bank</FONT><FONT style="FONT-SIZE: 8pt" color=black face=georgia> - BNDES BAIXADA SANTISTA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>Own funds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>2019</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>2.5% + TJLP </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" 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" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=georgia>Brazilian Development Bank</FONT><FONT style="FONT-SIZE: 8pt" color=black face=georgia> - BNDES PAC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>Own funds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>2023</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>2.15% + TJLP </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" 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" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=georgia>Brazilian Development Bank</FONT><FONT style="FONT-SIZE: 8pt" 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: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>Own funds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>2027</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>1.72%+TJLP </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" 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" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=georgia>Brazilian Development Bank</FONT><FONT style="FONT-SIZE: 8pt" 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: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>Own funds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>2027</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>1.72%+TJLP </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" 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" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=georgia>Brazilian Development Bank</FONT><FONT style="FONT-SIZE: 8pt" color=black face=georgia> - BNDES ONDA LIMPA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>Own funds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>2025</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>1.92% + TJLP </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" 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" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" face=georgia>Brazilian Development Bank</FONT><FONT style="FONT-SIZE: 8pt" color=black face=georgia> - BNDES TIETE III</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>Own funds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>2028</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>1.66% + TJLP </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" 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" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" 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" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>2035</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>7.73% to 10.12% </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" face=georgia>IPC</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" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Others</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>Own funds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>2015/2018</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>TJLP + 2% (Fehidro) and 12% (Presidente Prudente)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" face=georgia>TR</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt">&nbsp;</P><FONT style="LINE-HEIGHT: 67%" face=georgia><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia>&nbsp;</FONT></FONT> <FONT style="LINE-HEIGHT: 67%" face=georgia></FONT>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 48 of 76</FONT></P></DIV>

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<DIV align=left>&nbsp;</DIV>

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<TR>

   <TD width="85%">

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV>

<DIV align=left><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</DIV></DIV>

<P style="MARGIN: 0.25pt 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P><FONT lang=EN-US><BR clear=all></FONT>

<DIV align=center>

<TABLE style="WIDTH: 100%" 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="44%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; 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"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Foreign currency</FONT></B></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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Guarantees</FONT></B></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; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Maturity</FONT></B></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="24%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Annual interest rates</FONT></B></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%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Foreign exchange variation</FONT></B></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" width="44%">

   <P style="MARGIN: 4.8pt 0in"><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" 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" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" 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" width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" 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" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" 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" width="44%">

   <P style="MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Inter-American Development Bank - IDB 713 &#8211; US$62,744 thousand</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Federal Government</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2017</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>3.27%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" color=black face=georgia>US$</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" width="44%">

   <P style="MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Inter-American Development Bank - IDB 896- US$4,167 thousand</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Federal Government</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>3.00%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" color=black face=georgia>US$</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" width="44%">

   <P style="MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Inter-American Development Bank - IDB 1212 - US$107,920 thousand</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Federal Government</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2025</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>2.34%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" color=black face=georgia>US$</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" width="44%">

   <P style="MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Inter-American Development Bank - IDB 2202 - US$381,552 thousand</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Federal Government</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2035</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>1.18% </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" color=black face=georgia>US$</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" width="44%" noWrap>

   <P style="MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" color=black face=georgia>International Bank for Reconstruction and Development - IBRD US$45,860 thousand</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Federal Government</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2034</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" face=georgia>0.53%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" color=black face=georgia>US$</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" width="44%">

   <P style="MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Eurobonds &#8211; US$140,000 thousand</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-&nbsp;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>7.50%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" color=black face=georgia>US$</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" width="44%">

   <P style="MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Eurobonds &#8211; US$350,000 thousand</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-&nbsp;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2020</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>6.25%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" color=black face=georgia>US$</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" width="44%">

   <P style="MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" color=black face=georgia>JICA 15 &#8211; </FONT><FONT style="FONT-SIZE: 8pt" face=georgia>&#165;</FONT><FONT style="FONT-SIZE: 8pt" color=black face=georgia> 16,710,235 thousand </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Federal Government</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2029</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" 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: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Yen</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" width="44%">

   <P style="MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" color=black face=georgia>JICA 18&#8211; </FONT><FONT style="FONT-SIZE: 8pt" face=georgia>&#165;</FONT><FONT style="FONT-SIZE: 8pt" color=black face=georgia> 15,024,320 thousand</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Federal Government</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2029</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" 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: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Yen</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" width="44%">

   <P style="MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" color=black face=georgia>JICA 17&#8211; </FONT><FONT style="FONT-SIZE: 8pt" face=georgia>&#165;</FONT><FONT style="FONT-SIZE: 8pt" color=black face=georgia> 1,478,814 thousand</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Federal Government</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2035</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" 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: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Yen</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" width="44%">

   <P style="MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" color=black face=georgia>JICA 19&#8211; </FONT><FONT style="FONT-SIZE: 8pt" face=georgia>&#165;</FONT><FONT style="FONT-SIZE: 8pt" color=black face=georgia> 18,641,178 thousand</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Federal Government</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2037</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" 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: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8.5pt" color=black face=georgia>Yen</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" width="44%">

   <P style="MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" color=black face=georgia>BID 1983AB &#8211; US$130,288 thousand</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-&nbsp;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2023</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" 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: 17pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" color=black face=georgia>US$</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 1pt" lang=EN-US face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"></P>

<DIV align=left><FONT style="LINE-HEIGHT: 5%"><FONT style="FONT-SIZE: 1pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT>&nbsp;</DIV>

<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 49 of 76</FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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   <DIV>

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></FONT></B></DIV></DIV>

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

<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P><FONT lang=EN-US><BR clear=all></FONT>

<P style="TEXT-INDENT: -13.85pt; MARGIN: 0in 0in 0pt 145.15pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(i)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>Payment schedule</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia> &#8211; accounting balances on June 30, 2015</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.45pt 0in 0pt"><FONT style="FONT-SIZE: 5.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

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<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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 2.85pt"><FONT style="FONT-SIZE: 9pt" 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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: 9pt" 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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: 9pt" 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="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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: 9pt" 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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: 9pt" 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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: 9pt" 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="11%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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: 9pt" color=black face=georgia>2020</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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: 9pt" color=black face=georgia>2021 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="11%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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: 9pt" 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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 2.85pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>In domestic currency</FONT></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%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 2.85pt"><FONT style="FONT-SIZE: 9pt" 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%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>61,626</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>359,517</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>883,707</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>595,189</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>685,744</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>380,126</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>575,204</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>3,541,113</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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 2.85pt"><FONT style="FONT-SIZE: 9pt" 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%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>34,098</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>71,819</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>76,338</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>80,610</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>83,999</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>87,609</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>741,772</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,176,245</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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 2.85pt"><FONT style="FONT-SIZE: 9pt" 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%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>26,964</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>68,781</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>73,732</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>73,732</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>73,732</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>56,116</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>286,701</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>659,758</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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 2.85pt"><FONT style="FONT-SIZE: 9pt" 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%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>5,887</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>19,495</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>20,568</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>21,734</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>23,001</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>25,091</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>387,968</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>503,744</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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 9pt" 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%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>293</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>642</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>723</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>533</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,191</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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 9pt" 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%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>56,991</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>29,400</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>86,391</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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 2.85pt"><FONT style="FONT-SIZE: 9pt" 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: 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>185,859</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>549,654</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,055,068</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>771,798</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>866,476</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>548,942</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,991,645</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>5,969,442</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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 2.85pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>In foreign currency</FONT></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%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 9pt" 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%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>59,188</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>118,375</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>172,062</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>94,194</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>94,194</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>94,194</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,085,281</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,717,488</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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 9pt" 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%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>4,743</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>9,486</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>127,700</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>141,929</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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 2.85pt"><FONT style="FONT-SIZE: 9pt" 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%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>434,207</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,081,391</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,515,598</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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 2.85pt"><FONT style="FONT-SIZE: 9pt" 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%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>27,806</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>55,612</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>56,628</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>57,643</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>83,247</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>83,247</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>951,056</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,315,239</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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 2.85pt"><FONT style="FONT-SIZE: 9pt" 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%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>74,283</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>74,283</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>74,017</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>54,892</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>54,168</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>70,685</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: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>402,328</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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 2.85pt"><FONT style="FONT-SIZE: 9pt" 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%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>29,411</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>29,411</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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 2.85pt"><FONT style="FONT-SIZE: 9pt" 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: 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>116,405</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>682,477</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>302,973</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>225,854</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>237,076</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,322,486</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,234,722</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>5,121,993</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 8.5pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 2.85pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 8.5pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 2.85pt" align=right><FONT style="FONT-SIZE: 9pt" 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="17%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 2.85pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Overall Total</FONT></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%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>302,264</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 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,232,131</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 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,358,041</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 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>997,652</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 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,103,552</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 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,871,428</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 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>4,226,367</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 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 0in; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>11,091,435</FONT></P></DIV></TD></TR></TABLE></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -27.65pt; MARGIN: 4.15pt 35.6pt 0pt 86.35pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>(i)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Main events in the semester</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0pt 100.2pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(a)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>16<SUP>th</SUP> Issue of Debentures</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.8pt 0pt 72.55pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>On June 24, 2015, the total early payment of the 16<SUP>th</SUP> issue occurred totaling R$507,674. Contractual maturity was scheduled for November 12, 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0pt 100.2pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(b)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>Federal Savings Bank (CEF)</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.8pt 0pt 72.55pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Funding in the first six months totaled R$105,452, mainly related to the agreements in progress of the Growth Acceleration Program (PAC).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0pt 100.2pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(c)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>BNDES</FONT></B></P>

<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.8pt 0pt 72.55pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Funding in the first six months totaled R$56,000, referring to agreements 12.2.138.1 (BNDES Tiete III) and 09.2.1535.1 (BNDES Onda Limpa</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>).</FONT></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0in 100.2pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(d)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>BID</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 59.75pt 0pt 72.55pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Funding in the first six months totaled R$98,190, referring to agreement 2202 (BID 2202)</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.35pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0in 100.2pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(e)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>JICA</FONT></B></H4>

<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 59.8pt 0pt 72.55pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Funding in the first six months totaled R$130,339, referring to agreements BZ-P17 (JICA 17) and BZ-P19 (JICA 19</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>).</FONT></P>

<P style="MARGIN: 0.3pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0in 100.2pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(f)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Foreign exchange variation</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.65pt 0pt 72.55pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The US dollar exchange rate increased 16.8%, from R$2.6562 on December 31, 2014 to R$3.1026 on June 30, 2015, increasing debt by R$553,189. The Yen exchange rate increased 14.3%, from R$0.02223 on December 31, 2014 to R$0.02541 on June 30, 2015, increasing debt by R$144,912</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0in 100.2pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" face=Georgia>(g)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Leasing</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 59.9pt 0pt 72.55pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>On January 15, 2015, the S&#227;o Jos&#233; dos Campos Sanitary Sewage System started and the corresponding amount on June 30, 2015 is R$97,367</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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<H4 style="TEXT-INDENT: -27.65pt; MARGIN: 0in 35.6pt 0pt 86.35pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>(ii)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Covenants&nbsp; </FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.7pt 0pt 72.55pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>As of June 30, 2015, the Company had met the requirements set forth by its loan and financing agreements</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.7pt 0pt 72.55pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.7pt 0pt 72.55pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Regarding the agreements with the BNDES, there is a collateral mechanism by which SABESP has assigned a portion of its tariff payment receivables to BNDES. Under this mechanism, from 18<SUP>th</SUP> to the 28<SUP>th</SUP> day of each month SABESP must ensure that a portion of the tariff payments received by it are deposited on a daily basis into a blocked collateral account, before being released to a regular movements account later in the day provided that BNDES has not notified the bank that SABESP is in default. Among the financial ratios set forth in the agreements with the BNDES, there is the adjusted net debt/adjusted Ebitda ratio. </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>If this ratio is at or below 3.00, the amount that must pass through this blocked collateral account will be R$230 million per month; and if the ratio is in the band between 3.00 and 3.80, the amount that must pass through the blocked collateral account will automatically &nbsp;increase by 20%, equivalent to R$276 million per month.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.7pt 0pt 72.55pt"><FONT style="LINE-HEIGHT: 112%" color=black><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.7pt 0pt 72.55pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>&nbsp;The ratios recorded by the Company were 3.06, 3.09 and 3.17, on June 30, 2015, March 31,</FONT><FONT style="LETTER-SPACING: -0.4pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>2015</FONT><FONT style="LETTER-SPACING: -0.35pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>and December</FONT><FONT style="LETTER-SPACING: -0.35pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>31,</FONT><FONT style="LETTER-SPACING: -1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>2014,</FONT><FONT style="LETTER-SPACING: -1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>respectively. As a result, since the second quarter of 2015, the monthly guarantee assigned has increased by 20%.</FONT></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

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

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Calibri,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;&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><FONT style="LINE-HEIGHT: 5%"></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV>

<DIV align=left><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</DIV></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 58.5pt 0pt 1in"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Currently, R$226 million are pass through monthly in the blocked collateral account through the above mentioned mechanism. Considering that new loan agreements were signed with the BNDES, where the Company assigned additional guarantees of R$50 million (already included the 20%), total guarantees to pass through to the blocked collateral account will be R$276 million. The Company jointly with the BNDES are formalizing the operation of these guarantees.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.7pt 0pt 72.6pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>For the Company to be in default and accordingly, subject to early maturity,</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>the adjusted net debt/ adjusted Ebitda ratio of the agreements with the BNDES must exceed 3.80</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -27.65pt; MARGIN: 0in 35.6pt 0pt 86.35pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>(iii)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Loans and financing contracted and not yet used</FONT></B></H4>

<P style="MARGIN: 0.05pt 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=georgia></FONT></B>&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" face=georgia>Agent</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="2%">

   <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" face=georgia></FONT></B></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="33%">

   <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" face=georgia>June 30, 2015</FONT></B></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="65%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black 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=top width="2%">

   <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" 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="33%">

   <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" face=georgia>(in millions of reais (*))</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="65%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Brazilian Federal Savings Bank</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="2%">

   <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" 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="33%">

   <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" face=georgia>2,244</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="65%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="2%">

   <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" 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="33%">

   <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" face=georgia>2,621</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="65%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Inter-American Development Bank &#8211; IDB</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="2%">

   <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" 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="33%">

   <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" face=georgia>678</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="65%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Japan International Cooperation Agency &#8211; JICA</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="2%">

   <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" 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="33%">

   <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" face=georgia>500</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="65%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="2%">

   <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" 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="33%">

   <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" face=georgia>168</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" 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="2%">

   <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" 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="33%">

   <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" face=georgia>72</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="65%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" 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="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" 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="33%">

   <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" face=georgia>6,283</FONT></B></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.2pt 0in 0pt"><B><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 4.15pt 35.6pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(*)</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Closing quote of 06/30/2015 (US$1.00 = R$3.1026; &#165; 1.00 = R$0.02541)</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.45pt 0in 0pt"><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 101%; MARGIN: 0in 35.6pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>For more information on loans and financing, see Note 16 to the Annual Financial Statements as of December 31, 2014.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.5pt 0in 0pt"><FONT style="FONT-SIZE: 13pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: 0in; MARGIN: 4.15pt 35.6pt 0pt 24.2pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Taxes Payable</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -27.6pt; MARGIN: 0in 35.6pt 0pt 86.3pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(a)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>Current assets</FONT></B></P>

<P style="MARGIN: 0.35pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.35pt 0in 0pt"><B><FONT style="FONT-SIZE: 1.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 1pt; MARGIN: 0in 0in 0pt 245.9pt"><FONT style="FONT-SIZE: 1pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 45pt" 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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" 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="29%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 30, 2015</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>December 31, 2014</FONT></B></FONT></P></DIV></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 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Recoverable taxes</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="29%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="29%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="42%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Cofins and Pasep</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="29%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>-</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>10,121</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 6.3pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" 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="29%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>103,919</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>132,447</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 6.3pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" 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="29%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>5,850</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>3,718</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 6.3pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" 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="29%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,393</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,313</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 6.3pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Other municipal taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="29%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>169</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>169</FONT></FONT></P></DIV></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 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="29%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>112,331</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>148,768</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 4.6pt 0in 0pt 61.55pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 13.2pt 59.8pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The reduction in recoverable taxes is mainly due to decrease in &#8220;Income tax and social contribution&#8221; item, which was offset by Pasep and Cofins payable in the period</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 13.2pt 59.8pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 12.05pt 0in 0pt 86.3pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>(b)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Current liabilities</FONT></B></H4>

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   <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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 30, 2015</FONT></B></FONT></P></DIV></TD>

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   <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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>December 31, 2014</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Taxes and contributions payable</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Cofins and Pasep</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>17,345</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>-</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>INSS(Social Security contribution)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>35,376</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>33,324</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>IRRF</FONT><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(withholding income tax)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>497</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="20%" 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" face=georgia>17,377</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Other</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>17,372</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>23,437</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>70,590</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>74,138</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -0.25in; MARGIN: 4.15pt 35.6pt 0pt 42.2pt"><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>17</FONT></B><B><FONT style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>Deferred Taxes and Contributions</FONT></B></H4>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt 45pt"><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>(c)</FONT></B><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>Balance sheet balances</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 40pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 30, 2015</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>December 31, 2014</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><B><FONT style="FONT-SIZE: 9pt" face=georgia>Deferred income tax assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7.1pt; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>449,436</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -7.1pt; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>524,728</FONT></P></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Pension obligations &#8211; G0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>85,271</FONT></P></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Pension obligations </FONT><FONT style="FONT-SIZE: 9pt" face=georgia>&#8211; G1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>238,902</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>229,266</FONT></P></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Donations of underlying assets on concession agreements</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>47,786</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>45,742</FONT></P></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Allowance for loan losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>219,944</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>222,587</FONT></P></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Tax losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>12,165</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>-</FONT></P></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>122,922</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>112,566</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Total </FONT><FONT style="FONT-SIZE: 9pt" color=black face=georgia>deferred tax assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>1,091,155</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>1,220,160</FONT></P></DIV></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="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><B><FONT style="FONT-SIZE: 9pt" 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="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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="24%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><B><FONT style="FONT-SIZE: 9pt" face=georgia>Deferred income tax liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" 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: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>(543,818)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>(559,411)</FONT></P></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Capitalization of borrowing costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>(280,563)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>(253,581)</FONT></P></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Profit on supply to governmental entities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>(82,303)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>(87,092)</FONT></P></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Actuarial gain/loss &#8211; G1 Plan</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>(2,514)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>(2,514)</FONT></P></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>(106,857)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>(108,084)</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Total deferred tax liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>(1,016,055)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>(1,010,682)</FONT></P></DIV></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="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" 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="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" 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="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 16.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Deferred tax asset, net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>75,100</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 16.15pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>209,478</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.5pt 0in 0pt"><FONT style="FONT-SIZE: 13pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.35pt 0in 0pt">&nbsp;</P><FONT style="LINE-HEIGHT: 5%"></FONT>

<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 53 of 76</FONT></P></DIV>

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<TR>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV>

<DIV align=left>&nbsp;</DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0.25pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: 0in; MARGIN: 0in 35.6pt 0in 45pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>(b)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Changes</FONT></B></H4>

<P style="MARGIN: 0.1pt 0in 0pt"><B><FONT style="FONT-SIZE: 12.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 0.7in" 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="40%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia>Deferred income tax assets</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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" face=georgia>December 31, </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" face=georgia>2014</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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" face=georgia>Net</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" face=georgia>Change </FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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" face=georgia>June 30, </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia>2015</FONT></B></FONT></P></DIV></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="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>524,728</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(75,292)</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -7.1pt; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>449,436</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="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Pension obligations &#8211; G0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>85,271</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(85,271)</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>-</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="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Pension obligations &#8211; G1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>229,266</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>9,636</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>238,902</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="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" 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: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>45,742</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>2,044</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>47,786</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="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Credit losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>222,587</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(2,643)</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>219,944</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="40%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 2.4pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Tax losses</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>12,165</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>12,165</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="40%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 2.4pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Other</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="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>112,566</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>10,356</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>122,922</FONT></FONT></P></DIV></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="40%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Total</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="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>1,220,160</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(129,005)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>1,091,155</FONT></FONT></P></DIV></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="40%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="40%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia>Deferred income tax liabilities</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" 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: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(559,411)</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>15,593</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(543,818)</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="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" 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: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(253,581)</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(26,982)</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(280,563)</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="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" 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: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(87,092)</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>4,789</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(82,303)</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="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Actuarial gain/loss &#8211;G1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(2,514)</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(2,514)</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="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(108,084)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>1,227</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(106,857)</FONT></FONT></P></DIV></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="40%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Total</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="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(1,010,682)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(5,373)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(1,016,055)</FONT></FONT></P></DIV></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="40%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="40%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Deferred tax asset, net</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="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>209,478</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(134,378)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>75,100</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt 63.95pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 1pt; MARGIN: 0in 0in 0pt 258.05pt"><FONT style="FONT-SIZE: 1pt" lang=EN-US 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;&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>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 0.7in" 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="40%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia>Deferred tax assets</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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" face=georgia>December 31,</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" face=georgia>2013</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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" face=georgia>Net </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" face=georgia>change</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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" face=georgia>June 30, </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia>2014</FONT></B></FONT></P></DIV></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=top width="40%">

   <P style="MARGIN: 3.7pt 0in 0pt 5.5pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>506,568</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(7,307)</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -7.1pt; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>499,261</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=top width="40%">

   <P style="MARGIN: 3.15pt 0in 0pt 5.5pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Pension obligations &#8211;</FONT><FONT style="LETTER-SPACING: -1.05pt; FONT-SIZE: 9pt" face=georgia> </FONT><FONT style="FONT-SIZE: 9pt" face=georgia>G0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>85,271</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>85,271</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=top width="40%">

   <P style="MARGIN: 3.15pt 0in 0pt 5.5pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Pension obligations -</FONT><FONT style="LETTER-SPACING: -0.95pt; FONT-SIZE: 9pt" face=georgia> </FONT><FONT style="FONT-SIZE: 9pt" face=georgia>G1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>215,187</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>7,281</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>222,468</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="40%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 2.4pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>43,901</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>98</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>43,999</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=top width="40%">

   <P style="MARGIN: 3.15pt 0in 0pt 5.5pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Credit losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>172,482</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>7,391</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>179,873</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=top width="40%">

   <P style="MARGIN: 4.1pt 0in 0pt 5.5pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>87,266</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>25,222</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>112,488</FONT></FONT></P></DIV></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="40%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Total</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="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>1,110,675</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>32,685</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>1,143,360</FONT></FONT></P></DIV></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="40%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="40%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia>Deferred tax liabilities</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="40%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in 2.4pt 2.85pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Temporary difference on intangible asset concession</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(595,285)</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>15,777</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(579,508)</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=top width="40%">

   <P style="MARGIN: 3.15pt 0in 0pt 5.5pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Capitalization of borrowing costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(200,343)</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(10,120)</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(210,463)</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=top width="40%">

   <P style="MARGIN: 3.15pt 0in 0pt 5.5pt"><FONT style="FONT-SIZE: 9pt" 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: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(81,711)</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>137</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(81,574)</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=top width="40%">

   <P style="MARGIN: 3.15pt 0in 0pt 5.5pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Actuarial gains(losses)&#8211; G1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(32,405)</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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(32,405)</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=top width="40%">

   <P style="MARGIN: 4.15pt 0in 0pt 5.5pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(86,901)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(9,069)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(95,970)</FONT></FONT></P></DIV></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="40%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Total</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="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(996,645)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(3,275)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(999,920)</FONT></FONT></P></DIV></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="40%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="40%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2.4pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Deferred tax assets, net</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="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>114,030</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>29,410</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>143,440</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 54 of 76</FONT></P></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0.25pt 0in 0pt"><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 4.15pt 0in 0in 45pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>(c)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Reconciliation of the effective tax rate</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 59.75pt 0in 45pt"><FONT style="FONT-SIZE: 9.5pt" 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></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.55pt 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

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<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; LINE-HEIGHT: 110%; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 2.85pt 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" 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%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 30, 2015</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 30, 2014</FONT></B></FONT></P></DIV></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Profit before income taxes</FONT></FONT></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 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>790,096</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,162,789</FONT></FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Statutory rate</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2.4pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>34%</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2.4pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>34%</FONT></FONT></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></FONT></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 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Estimated expenses at statutory rate</FONT></FONT></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 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(268,633)</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(395,348)</FONT></FONT></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 2.4pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Tax benefit of interest on equity</FONT></FONT></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: 1pt 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>12,868</FONT></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; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>27,411</FONT></FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Permanent differences</FONT></FONT></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 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in -10pt 2.4pt 10pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><FONT style="LINE-HEIGHT: 110%" color=#000000 face=georgia><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Provision - Law 4,819/58 (i)</FONT></FONT></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 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(28,800)</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(25,787)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in -10pt 2.4pt 10pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><FONT style="LINE-HEIGHT: 110%" color=#000000 face=georgia><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Donations</FONT></FONT></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 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(2,770)</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(4,373)</FONT></FONT></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="48%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 0in -10pt 2.4pt 10pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><FONT style="LINE-HEIGHT: 110%" color=#000000 face=georgia><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>GESP Agreement (Note 9(b))</FONT></FONT></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 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>151,465</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>-</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in -10pt 2.4pt 10pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><FONT style="LINE-HEIGHT: 110%" color=#000000 face=georgia><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Other differences</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2.4pt; 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" color=black face=georgia>1,267</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2.4pt; 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" color=black face=georgia>15,316</FONT></FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Income tax and social contribution</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2.4pt; 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" color=black face=georgia>(134,603)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2.4pt; 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" color=black face=georgia>(382,781)</FONT></FONT></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Current income tax and social contribution</FONT></FONT></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 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(225)</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(412,191)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Deferred income tax and social contribution</FONT></FONT></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 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(134,378)</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>29,410</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Effective rate</FONT></FONT></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 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>17%</FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 2.4pt 5.65pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>33%</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 6.9pt 35.6pt 0pt 61.55pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 15.8pt 35.6pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(i)</FONT><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Permanent difference related to the provision for actuarial liability (Note 19 (b) (iii))</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></FONT></DIV></DIV>

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<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 0in 35.6pt 0pt 58.7pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>18</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" 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: 9.5pt" face=Georgia>Provisions</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; TEXT-INDENT: -20.75pt; MARGIN: 0in 0in 0pt 79.45pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(a)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>Lawsuits with probable likelihood of loss</FONT></B></P>

<P style="MARGIN: 0.4pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -14.6pt; MARGIN: 0in 35.6pt 0pt 100.9pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(I)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman"> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>Financial position balances</FONT></B></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.75pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" 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 are as follows:</FONT></P>

<P style="MARGIN: 0.45pt 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 1pt; MARGIN: 0in 0in 0pt 168.75pt"><FONT style="LETTER-SPACING: 5.65pt; FONT-SIZE: 1pt" lang=EN-US face="times new roman"></FONT>&nbsp;</P>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia></FONT></B></FONT>&nbsp;</P>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia></FONT></B></FONT>&nbsp;</P></TD>

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   <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" face=georgia>Provisions</FONT></B></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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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" face=georgia>Escrow deposits</FONT></B></FONT></P></DIV></TD>

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   <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" face=georgia>June 30, 2015</FONT></B></FONT></P></DIV></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" face=georgia></FONT></B></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="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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" face=georgia>Provisions</FONT></B></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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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" face=georgia>Escrow deposits</FONT></B></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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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" face=georgia>December 31, 2014</FONT></B></FONT></P></DIV></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" 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: 9pt" face=georgia>576,636</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" face=georgia>(120,630)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>456,006</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"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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%">

   <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" face=georgia>638,637</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"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(114,463)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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" face=georgia>524,174</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="24%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Supplier claims (ii)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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" face=georgia>278,635</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(209,145)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>69,490</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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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%">

   <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" face=georgia>260,854</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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(195,478)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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" face=georgia>65,376</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="24%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Other civil claims (iii)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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" face=georgia>123,573</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(12,030)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>111,543</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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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%">

   <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" face=georgia>126,403</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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(9,990)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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" face=georgia>116,413</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="24%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Tax claims</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia> (iv)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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" face=georgia>59,395</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(649)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>58,746</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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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%">

   <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" face=georgia>55,554</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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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" face=georgia>55,554</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="24%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Labor claims</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia> (v)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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" face=georgia>206,123</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(2,576)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>203,547</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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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%">

   <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" face=georgia>235,466</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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(2,233)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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" face=georgia>233,233</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="24%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Environmental claims</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia> (vi)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>77,507</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>(861)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>76,646</FONT></FONT></P></DIV></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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>226,404</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>(807)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>225,597</FONT></FONT></P></DIV></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="24%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>1,321,869</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>(345,891)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>975,978</FONT></FONT></P></DIV></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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>1,543,318</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>(322,971)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>1,220,347</FONT></FONT></P></DIV></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="24%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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%">

   <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" 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="13%" 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" 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="13%" 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" 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: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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%">

   <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" 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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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%">

   <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" 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" width="24%" 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" face=georgia>Current</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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" face=georgia>597,144</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>-</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>597,144</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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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%">

   <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" face=georgia>625,092</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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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" face=georgia>625,092</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" width="24%" 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" face=georgia>Noncurrent</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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" face=georgia>724,725</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(345,891)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>378,834</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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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%">

   <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" face=georgia>918,226</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" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(322,971)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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" face=georgia>595,255</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.25pt 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -14.6pt; MARGIN: 0in 35.6pt 0pt 100.9pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(II)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>&nbsp;Changes</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 40pt" 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="24%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia></FONT></B></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%">

   <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" face=georgia>December 31, 2014</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; 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" face=georgia>Additional provisions</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; 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" 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: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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" 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: 17pt; 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=center><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" face=georgia>Amounts <BR>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" face=georgia>(reversal)</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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" face=georgia>June 30, 2015</FONT></B></FONT></P></DIV></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="24%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Customer claims (i)</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="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" face=georgia>638,637</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="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" face=georgia>16,777</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="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" face=georgia>51,678</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="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" face=georgia>(35,299)</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="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" face=georgia>(95,157)</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="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" face=georgia>576,636</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="24%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Supplier claims (ii)</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="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" face=georgia>260,854</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="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" face=georgia>2,682</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="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" face=georgia>19,898</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="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" face=georgia>(3,206)</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="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" face=georgia>(1,593)</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="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" face=georgia>278,635</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="24%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Other civil claims (iii)</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="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" face=georgia>126,403</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="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" face=georgia>6,722</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="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" face=georgia>11,096</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="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" face=georgia>(7,350)</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="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" face=georgia>(13,298)</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="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" face=georgia>123,573</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="24%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Tax claims (iv)</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="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" face=georgia>55,554</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="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" face=georgia>1,168</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="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" face=georgia>4,988</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="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" face=georgia>(214)</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="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" face=georgia>(2,101)</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="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" face=georgia>59,395</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="24%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Labor claims (v)</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="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" face=georgia>235,466</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="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" face=georgia>23,769</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="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" face=georgia>10,043</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="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" face=georgia>(13,929)</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="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" face=georgia>(49,226)</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="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" face=georgia>206,123</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="24%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Environmental claims (vi)</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="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><FONT style="FONT-SIZE: 9pt" face=georgia>226,404</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>7,942</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>9,884</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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><FONT style="FONT-SIZE: 9pt" face=georgia>(4,873)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>(161,850)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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><FONT style="FONT-SIZE: 9pt" face=georgia>77,507</FONT></FONT></P></DIV></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="24%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Subtotal</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="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" face=georgia>1,543,318</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="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" face=georgia>59,060</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="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" face=georgia>107,587</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="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" face=georgia>(64,871)</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="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" face=georgia>(323,225)</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="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" face=georgia>1,321,869</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="24%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Escrow deposits</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="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><FONT style="FONT-SIZE: 9pt" face=georgia>(322,971)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>(15,008)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>(14,858)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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><FONT style="FONT-SIZE: 9pt" face=georgia>6,555</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>391</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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><FONT style="FONT-SIZE: 9pt" face=georgia>(345,891)</FONT></FONT></P></DIV></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="24%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Total</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="13%">

   <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: 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><FONT style="FONT-SIZE: 9pt" face=georgia>1,220,347</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <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: 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><FONT style="FONT-SIZE: 9pt" face=georgia>44,052</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <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: 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><FONT style="FONT-SIZE: 9pt" face=georgia>92,729</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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: 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><FONT style="FONT-SIZE: 9pt" face=georgia>(58,316)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <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: 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><FONT style="FONT-SIZE: 9pt" face=georgia>(322,834)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <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: 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><FONT style="FONT-SIZE: 9pt" face=georgia>975,978</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 14.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 4.15pt 0in 0pt 86.3pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>(b)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Explanation on the nature of main classes of lawsuits</FONT></B></H4>

<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -23.7pt; MARGIN: 0in 35.6pt 0pt 110pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(I)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>Customer claims</FONT></B></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.8pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Approximately 1,190 lawsuits were filed by commercial customers, which claim that their tariffs should correspond to other consumer categories, and 730 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 and 60 lawsuits where customers plead the reduction in tariff under the category as &#8220;Social Welfare Entity&#8221;. 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 decrease of R$68,168 in the lawsuits classified as probable loss (net of escrow deposits) is mainly related to revisions of expectations caused by favorable decisions to the Company.</FONT></P>

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<H4 style="TEXT-INDENT: -27.7pt; MARGIN: 0in 35.6pt 0pt 114pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>(II)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Supplier claims</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.75pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" 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.</FONT></P>

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<H4 style="TEXT-INDENT: -27.65pt; MARGIN: 0in 35.6pt 0pt 113.95pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>(III)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Other civil claims</FONT></B></H4>

<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.75pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" 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.</FONT></P>

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<H4 style="TEXT-INDENT: -27.65pt; MARGIN: 0in 35.6pt 0pt 113.95pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>(IV)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Tax claims</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 59.75pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" 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.</FONT></P>

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<H4 style="TEXT-INDENT: -27.65pt; MARGIN: 0in 35.6pt 0pt 113.95pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>(V)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Labor claims</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.75pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" 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 loss and accordingly, accrued. The decrease of R$29,686 in lawsuits with probable chances of losses (net of escrow deposits) is mainly related to reversals of provisions referring to settlements in the Company&#8217;s administrative proceedings.</FONT></P>

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<H4 style="TEXT-INDENT: -27.7pt; MARGIN: 4.15pt 35.6pt 0pt 114pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>(VI)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Environmental claims</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.7pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" 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 decrease of R$148,951 in lawsuits with expectation of probable losses (net of escrow deposits) is mainly related to two lawsuits, one due to change in its amount, totaling R$36,501, due to the expectation of settlement with the parties involved and the other one due to provision reversal totaling R$109,841, due to court decision favorable to the Company.</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0.25pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0in 86.3pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia></FONT></B>&nbsp;</H4>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0in 86.3pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>(c)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Lawsuits with possible likelihood of loss</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.75pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" 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 R$5,058,600 on June 30, 2015 (December/2014 &#8211; R$3,779,100). In the first six months of 2015, three new lawsuits were filed totaling R$511,731 related to environmental, labor and tax claims. The amounts considered for reporting purposes are the amounts questioned by adverse parties, which is not possible estimate the amounts involved for the Company, due to the initial phase of lawsuit.</FONT></P>

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<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.65pt; MARGIN: 0in 0in 0in 86.35pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>(d)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Lawsuits with settlements made in 2015</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.7pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>During the first six months of 2015, the Company made several judicial and administrative settlements, totaling R$194,348. Of this amount, R$189,475 refer to sanitary sewage constructions and R$4,873 refer to environmental compensation, the latter, recorded as &#8220;other liabilities&#8221;. The accumulated balance on June 30, 2015, referring to these environmental liabilities is R$22,658.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 59.8pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Other information is stated in Note 19 to the Annual Financial Statements as of December 31, 2014.</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>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -20.75pt; MARGIN: 0in 0in 0in 79.45pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>(e)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Guarantee insurance for escrow deposit</FONT></B></H4>

<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: 112%; MARGIN: 0in 59.7pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>During the second quarter of 2015, the Company contracted guarantee insurance for escrow deposit totaling R$500 million. Such insurance will be used in legal claims where instead of immediate cash disbursement by the Company, such insurance is used until the conclusion of these proceedings or up to three-year effectiveness term of the agreement.</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: 112%; MARGIN: 0in 59.7pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>As of June 30, 2015, the Company has already used the amount of R$130 million of such insurance in a tax claim deemed as possible loss.</FONT></P>

<P style="MARGIN: 0.55pt 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 0in 35.6pt 0pt 58.7pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>19</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" 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: 9.5pt" face=Georgia>Employee Benefits</FONT></B></H4>

<P style="MARGIN: 0.4pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0pt 86.3pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(a)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>Health benefit plan</FONT></B></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 59.85pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black 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: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.&nbsp; </FONT><FONT style="LETTER-SPACING: 1.55pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>&nbsp;</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Company: 7.7% on average, of gross payroll</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>;</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; TEXT-INDENT: -13.9pt; MARGIN: 0in 59.85pt 0pt 72.6pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Participating employees - 3.21% of base salary and premiums, equivalent to 2.2% of payroll, on average</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>. </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; TEXT-INDENT: -13.9pt; MARGIN: 0in 59.85pt 0pt 72.6pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; TEXT-INDENT: -13.9pt; MARGIN: 0in 59.85pt 0pt 72.6pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0pt 86.3pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(b)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pension plan benefits</FONT></B></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Amounts recorded in the statement of financial position</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Funded plan &#8211; G1</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Pension plan liabilities on December 31, 2014 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>676,071</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="72%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Expenses recognized in 2015</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" 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="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>40,200</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="72%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Payments made in 2015</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" 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="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>(11,858)</FONT></P></DIV></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="72%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Pension plan liabilities on June 30, 2015 (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" 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="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>704,413</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="72%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" 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="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" 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="72%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Unfunded plan &#8211; G0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" 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="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" 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="72%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Pension plan liabilities on December 31, 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" 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="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>2,053,527</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="72%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Expenses recognized in 2015</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" 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="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>123,930</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="72%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Payments made in 2015</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" 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="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>(70,977)</FONT></P></DIV></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="72%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Pension plan liabilities on June 30, 2015 (iii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" 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="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>2,106,480</FONT></P></DIV></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="72%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" 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="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" 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="72%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" face=georgia>Total</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" 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="25%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>2,810,893</FONT></P></DIV></TD></TR></TABLE></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: 0in; MARGIN: 0in 35.6pt 0pt 86.3pt"><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>(i)Plan G1</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 1.15pt 58.5pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The Company sponsors a defined benefit pension plan for its employees ("Plan G1"), which is managed by Sabesprev, receives similar contributions established in a plan of subsidy of actuarial study of SABESPREV, as follows</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.55pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -10.2pt; MARGIN: 0in 35.6pt 0pt 86.3pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>1.19% of the portion of the salary of participation up to 20 salaries; and</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -10.2pt; MARGIN: 4.25pt 35.6pt 0pt 86.3pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>10.13% of the surplus, if any, of the portion of the salary of participation over 20 salaries.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.45pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 59.8pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>As of June 30, 2015, SABESP had a net actuarial liability of R$704,413 (R$676,071 on December 31, 2014) 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 plan&#8217;s assets</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.25pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -21.7pt; MARGIN: 0in 35.6pt 0pt 1.5in"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>(ii)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Private pension plan benefits &#8211; Defined contribution</FONT></B></H4>

<P style="TEXT-ALIGN: justify; MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 59.7pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>On June 30, 2015, Sabesprev Mais plan, based on defined contribution, had 5,259 active and assisted participants (5,188 in December 2014</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.35pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; MARGIN: 0in 59.8pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>With respect to the Sabesprev Mais plan, the contributions from the sponsor represent 100% over the total basic contribution from the participants</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0.3pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.8pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The commitment to all participants who migrated from Plan G1 to the Sabesprev Mais Plan amounted to R$8,347 on June 30, 2015 (R$9,214 on December 31, 2014) referred to active participants</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -21.7pt; MARGIN: 4.15pt 35.6pt 0pt 1.5in"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>(iii)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman"> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Plan</FONT></B><B><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 9.5pt" face=Georgia> </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>G0</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.65pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" 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 June 30, 2015, the Company recorded a defined benefit obligation for Plan G0 of R$2,106,480 (R$2,053,527 on December 31, 2014).</FONT></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 0in 58.7pt"><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>(c)&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Profit sharing</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.7pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>The Company recorded as reference to the 2015 Profit Sharing Program, the amount corresponding to one-month salary for each employee, depending on the establishment goals. In the second quarter of 2015, R$20,613 were accrued (R$19,304 in the second quarter of 2014). From January to June 2015 and 2014, R$37,920 and R$36,516, respectively were accrued.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 0in 35.6pt 0pt 58.7pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>20</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Services payable</FONT></B></H4>

<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.8pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" 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 June 30, 2015 and December 31, 2014 were R$302,680 and R$318,973, respectively</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.4pt 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 0in 35.6pt 0pt 58.7pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" color=black face=Georgia>21</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" 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: 9.5pt" color=black face=Georgia>Equity</FONT></B></H4>

<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -20.75pt; MARGIN: 0in 0in 0pt 79.45pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(a)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>Authorized capital</FONT></B><B><FONT style="LETTER-SPACING: -0.15pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia> </FONT></B></P>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.7pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The Company is authorized to increase capital by up to R$15,000,000 (R$15,000,000 in December 2014), based on a Board of Directors' resolution, after submission to the Fiscal Council</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.7pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.75pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" 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 style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: -27.6pt; MARGIN: 0in 0in 0in 86.3pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>(b)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Subscribed and paid-in capital</FONT></B></H4>

<P style="MARGIN: 0.45pt 0in 0pt"><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.9pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Subscribed and paid-in capital is represented by 683,509,869 registered, book-entry common shares without par value as of June 30, 2015 (683,509,869 on December 31, 2014), held as follows</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

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<TR style="HEIGHT: 15.6pt">

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   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 8.5pt 2.4pt 0in" align=center><FONT style="FONT-SIZE: 9pt" 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="28%" colSpan=2 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 30, 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="28%" colSpan=2 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>December 31, 2014</FONT></B></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 8.5pt 2.4pt 0in"><FONT style="FONT-SIZE: 9pt" 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="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Number of shares</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; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>%&nbsp;</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Number of shares</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; 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; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>%&nbsp;</FONT></B></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 8.5pt 2.4pt 0in"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>State Department of Finance</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>343,524,285</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" 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="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>343,524,285 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>50.26%</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 8.5pt 2.4pt 0in"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Brazil Clearing and Depository Corporation - CBLC</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>176,989,242</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>25.89%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>169,000,272</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>24.73%</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="44%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 8.5pt 2.4pt 0in"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>The Bank Of New York ADR Department (equivalent in shares) (*)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>160,840,202</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>23.53%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>170,351,902 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>24.92%</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="44%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 8.5pt 2.4pt 0in"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,156,140</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; 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; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>0.32%</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>633,410</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; 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; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>0.09%</FONT></P></DIV></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="44%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 8.5pt 2.4pt 0in"><FONT style="FONT-SIZE: 9pt" 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="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" 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="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" 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="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" 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="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" 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="44%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 8.5pt 2.4pt 0in"><FONT style="FONT-SIZE: 9pt" 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="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>683,509,869</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>100.00%</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>683,509,869</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 5.65pt; BORDER-TOP: medium none; MARGIN-RIGHT: 5.65pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 4.8pt 0in 2.4pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>100.00%</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 35.6pt 0pt 274.95pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -13.5pt; MARGIN: 0in 35.6pt 0pt 81pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>(*) Each ADR corresponds to 1 share.</FONT></P>

<P style="MARGIN: 0.1pt 0in 0pt"><B><FONT style="FONT-SIZE: 1pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.4pt 0in 0pt"><B><FONT style="FONT-SIZE: 3.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 59.75pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The Annual Shareholders&#8217; Meeting held on April 30, 2015 approved the distribution of dividends as interest on shareholders&#8217; equity amounting to R$252,304 and the transfer to Investments Reserves of retained earnings balances totaling R$605,530</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 59.75pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>The payment of interest on equity in the amount of R$233,807, net of withholding income tax of R$18,497, totaling R$252,304, has started in June 2015 and the amount of R$106,980 was paid to minority shareholders. Additionally, the Company paid R$5 as interest on equity declared in 2013. The balance payable on June 30, 2015, refers mainly to balance payable to controlling shareholder.</FONT></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.75pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" 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 22 to the Annual Financial Statements as of December 31, 2014</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.45pt 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -25.3pt; MARGIN: 0in 35.6pt 0pt 49.5pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" color=black face=Georgia>22</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Earnings per Share</FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia><BR><BR></FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Basic and diluted</FONT></B></H4>

<H4 style="TEXT-INDENT: -27.6pt; MARGIN: 0in 35.6pt 0in 45pt"><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia></FONT></B>&nbsp;</H4>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.6pt 0pt 49.5pt"><FONT style="FONT-SIZE: 9.5pt" 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. 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: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.45pt 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 40pt" 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="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><B><FONT style="FONT-SIZE: 9pt" 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="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>January to June </FONT></B></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 2pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>January to June </FONT></B></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 2pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2014</FONT></B></P></DIV></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="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><B><FONT style="FONT-SIZE: 9pt" 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="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt" align=right><B><FONT style="FONT-SIZE: 9pt" 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="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt" align=right><B><FONT style="FONT-SIZE: 9pt" 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="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt 45pt"><FONT style="FONT-SIZE: 9pt" color=black face=Georgia>Income attributable to the Company&#8217;s shareholders</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 2pt" align=right><FONT style="FONT-SIZE: 9pt" face=Georgia>655,493</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 2pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=Georgia>780,008</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="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt 45pt"><FONT style="FONT-SIZE: 9pt" color=black face=Georgia>Weighted average number of common shares issued</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=Georgia>683,509,869</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=Georgia>683,509,869</FONT></P></DIV></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="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt 45pt"><FONT style="FONT-SIZE: 9pt" 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 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" 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 2.85pt 2pt" align=right><FONT style="FONT-SIZE: 9pt" 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="62%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt 45pt"><FONT style="FONT-SIZE: 9pt" color=black face=Georgia>Basic and diluted earnings per share (reais per share)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>0.95901</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 2pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1.14118</FONT></P></DIV></TD></TR></TABLE></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0.1pt 0in 0pt"><FONT style="FONT-SIZE: 13pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.1pt 0in 0pt"><FONT style="FONT-SIZE: 13pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -25.3pt; MARGIN: 0in 35.6pt 0pt 49.5pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>23</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Business segment information</FONT></B></H4>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.9pt 0pt 49.5pt"><FONT style="FONT-SIZE: 9.5pt" 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 style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 49.5pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><I><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></I></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="62%" colSpan=4 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>April to June 2015</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><I><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></I></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Water</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Sewage</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Reconciliation to </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>the statement of </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>income</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Balance as per </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>financial </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>statements</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Gross operating income</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,150,743</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>896,499</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>904,760</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2,952,002</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Gross sales deductions</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(72,596)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(56,554)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(129,150)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Net operating income</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,078,147</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>839,945</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>904,760</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2,822,852</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Costs, selling, general and administrative expenses</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(887,117)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(577,972)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(885,223)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(2,350,312)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%">

   <P 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" color=black face=georgia>Income from operations before other operating expenses, net and equity accounting</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>191,030</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>261,973</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>19,537</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>472,540</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>Other operating income (expenses), net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>11,777</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Equity accounting</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(115)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Financial result, net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>155,392</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Income from operations before taxes</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>639,594</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Depreciation and amortization</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>145,753</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>138,334</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>284,087</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 61 of 76</FONT></P></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

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<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><I><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></I></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="62%" colSpan=4 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><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>January to June 2015</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><I><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></I></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Water</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Sewage</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Reconciliation to </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>the statement of </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>income</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Balance as per </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>financial </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>statements</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Gross operating income</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2,280,371</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,771,363</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 8pt" face=georgia>1,493,226</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>5,544,960</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Gross sales deductions</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(142,655)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(110,812)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(253,467)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Net operating income</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2,137,716</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,660,551</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,493,226</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>5,291,493</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Costs, selling, general and administrative expenses</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(1,387,882)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(866,381)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(1,461,599)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(3,715,862)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%">

   <P 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" color=black face=georgia>Income from operations before other operating expenses, net and equity accounting</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>749,834</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>794,170</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>31,627</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,575,631</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>Other operating income (expenses), net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>43,834</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Equity accounting</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>999</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Financial result, net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(830,368)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Income from operations before taxes</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>790,096</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Depreciation and amortization</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>287,277</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>250,118</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>537,395</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: 9.5pt" 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: 9.5pt" 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="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></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: 9.5pt" 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: 9.5pt" 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: 9.5pt" 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: 9.5pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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<TR style="HEIGHT: 28.35pt">

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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><I><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></I></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="62%" colSpan=4 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>April to June 2014</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><I><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></I></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Water</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Sewage</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Reconciliation to </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>the statement </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>of</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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>&nbsp;income</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Balance as per </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>financial </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>statements</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Gross operating income</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,231,368</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>992,649</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>678,749</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2,902,766</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Gross sales deductions</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(82,335)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(66,278)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(148,613)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Net operating income</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,149,033</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>926,371</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>678,749</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2,754,153</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Costs, selling, general and administrative expenses</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(1,026,630)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(624,222)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(664,217)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(2,315,069)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%">

   <P 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" color=black face=georgia>Income from operations before other operating expenses, net and equity accounting</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>122,403</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>302,149</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>14,532</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>439,084</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>Other operating income (expenses), net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>5,209</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Equity accounting</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>49</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Financial result, net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(21,577)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Income from operations before taxes</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>422,765</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Depreciation and amortization</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>117,456</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>105,138</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>222,594</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: 9.5pt" 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: 9.5pt" 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="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 63 of 76</FONT></P></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></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: 9.5pt" 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: 9.5pt" 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: 9.5pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><I><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></I></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="62%" colSpan=4 noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>January to June 2014</FONT></B></FONT></P></DIV></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><I><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></I></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Water</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Sewage</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Reconciliation to </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>the statement of </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>income</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Balance as per </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>financial </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>statements</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Gross operating income</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2,571,445</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2,097,003</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,209,976</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>5,878,424</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Gross sales deductions</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(183,058)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(149,283)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(332,341)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Net operating income</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2,388,387</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,947,720</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,209,976</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>5,546,083</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>Costs, selling, general and administrative expenses</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(1,956,371)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(1,209,997)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(1,184,689)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(4,351,057)</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%">

   <P 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" color=black face=georgia>Income from operations before other operating expenses, net and equity accounting</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>432,016</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>737,723</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>25,287</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,195,026</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" face=georgia>Other operating income (expenses), net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(37,860)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Equity accounting</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>(319)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Financial result, net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>5,942</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Income from operations before taxes</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>1,162,789</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 28.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="38%" 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: 8pt" color=black face=georgia>Depreciation and amortization</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>262,592</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>220,260</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 28.35pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" color=black face=georgia>482,852</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: 9.5pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 112%; MARGIN: 25.45pt 0.75in 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" 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 style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

<P style="LINE-HEIGHT: 112%; MARGIN: 25.45pt 0.75in 0pt 45pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 112%" face=calibri,sans-serif></FONT>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 40pt" 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="48%" 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" 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="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>April to </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 2015</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>January to </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2015</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>April to </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 2014</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>January </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>to</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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>&nbsp;June 2014</FONT></B></FONT></P></DIV></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="48%" 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" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="48%" 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" color=black face=georgia>Gross revenue from construction recognized under ICPC 1 (R1) (a)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>904,760</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,493,226</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>678,749</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,209,976</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="48%" 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" color=black face=georgia>Construction costs recognized under ICPC 1 (R1) (a)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>885,223</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,461,599</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>664,217</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,184,689</FONT></FONT></P></DIV></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="48%" 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" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="48%" 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" 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=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>19,537</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>31,627</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>14,532</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>25,287</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 111%; TEXT-INDENT: -17.55pt; MARGIN: 23.45pt 0.75in 0pt 93.75pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>(a)</FONT><FONT style="LETTER-SPACING: 0.85pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Revenue from concession construction contracts is recognized in accordance with CPC 17 (R1), Construction Contracts (IAS 11), using the percentage-of-completion method. See Note 13 (c) and </FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>(f</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>).</FONT></P><FONT style="LINE-HEIGHT: 111%" face=calibri,sans-serif></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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<H4 style="TEXT-INDENT: -34.55pt; MARGIN: 5.45pt 35.6pt 0pt 58.75pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>24</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Operating Revenue</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -24.35pt; MARGIN: 0in 35.6pt 0pt 83.05pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(a)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>Revenue from water and sewage services</FONT></B><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>:</FONT></B></P>

<P style="MARGIN: 0.15pt 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

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<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia></FONT></B></FONT>&nbsp;</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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>April to </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 2015</FONT></B></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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>January to </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 2015</FONT></B></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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>April to </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 2014</FONT></B></FONT></P></DIV></TD>

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   <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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>January to </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 2014</FONT></B></FONT></P></DIV></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" 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="48%" noWrap>

   <P style="MARGIN: 0in 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" 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="13%">

   <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" face=georgia>1,384,432</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <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" face=georgia>2,685,782</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>1,579,335</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>3,308,583</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="48%" noWrap>

   <P style="MARGIN: 0in 2.85pt 2.4pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Regional Systems (i) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>662,810</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>1,365,952</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>644,682</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>1,359,865</FONT></FONT></P></DIV></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Total (ii)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>2,047,242</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>4,051,734</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>2,224,017</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>4,668,448</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 4.55pt 0in 0pt 61.55pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 1.4pt; MARGIN: 0in 0in 0pt 266.55pt"><FONT style="FONT-SIZE: 1pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -13.8pt; MARGIN: 0in 35.6pt 0pt 100.1pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(i)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>Including</FONT><FONT style="LETTER-SPACING: -0.3pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>the</FONT><FONT style="LETTER-SPACING: -0.3pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>municipalities</FONT><FONT style="LETTER-SPACING: -0.3pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>operated</FONT><FONT style="LETTER-SPACING: -0.25pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>in</FONT><FONT style="LETTER-SPACING: -0.25pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>countryside and</FONT><FONT style="LETTER-SPACING: -0.3pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>at</FONT><FONT style="LETTER-SPACING: -0.3pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>the</FONT><FONT style="LETTER-SPACING: -0.35pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>coast</FONT><FONT style="LETTER-SPACING: -0.2pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>of</FONT><FONT style="LETTER-SPACING: -0.3pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>the</FONT><FONT style="LETTER-SPACING: -0.3pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>State</FONT><FONT style="LETTER-SPACING: -0.3pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>of</FONT><FONT style="LETTER-SPACING: -0.25pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>S&#227;o</FONT><FONT style="LETTER-SPACING: -0.35pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>Paulo.</FONT></P>

<P style="MARGIN: 0.45pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: -13.8pt; MARGIN: 0in 59.75pt 0pt 100.1pt"><FONT style="LINE-HEIGHT: 112%" face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(ii)</FONT></FONT><FONT style="LINE-HEIGHT: 112%" color=black face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>In the second quarter of 2015, t</FONT></FONT><FONT style="LINE-HEIGHT: 112%" color=black face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>he gross operating revenue from sale of products and services decreased </FONT></FONT><FONT style="LINE-HEIGHT: 112%" color=black face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>7.9%, compared to same period of 2014. The decrease is mainly due to reduction in &nbsp;water and sewage </FONT></FONT><FONT style="LINE-HEIGHT: 112%" color=black face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>billed volume, caused by lower consumption</FONT></FONT><FONT style="LINE-HEIGHT: 112%" face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>.</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.75pt 0pt 99pt"><FONT style="LINE-HEIGHT: 112%" color=black face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>In the second quarter of 2015, bonus totaled R$231,009, versus R$88,084 in the second quarter of 2014. In the second quarter of 2015, the billed amounts related to the application of contingency tariff was R$122,974.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.75pt 0pt 99pt"><FONT style="LINE-HEIGHT: 112%" color=black face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.75pt 0pt 99pt"><FONT style="LINE-HEIGHT: 112%" color=black face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>On May 5, 2015, ARSESP authorized a cumulative index of 15.2414%, comprised of annual adjustment of 7.1899% (net of the X Factor), plus the remaining portion of 0.5575% referring to the postponed Ordinary Tariff Revision applied on December 27, 2014 and the tariff adjustment of 6.9154% resulting from Sabesp&#8217;s Extraordinary Tariff Revision, reflecting in 1.51% in June 2015. In addition, on December 27, 2014, the tariff increased 6.4952%.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.75pt 0pt 99pt"><FONT style="LINE-HEIGHT: 112%" face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.75pt 0pt 63pt"><FONT style="LINE-HEIGHT: 112%" color=black face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>Additional information on bonus and the contingency tariff, see Note 24 (a) to the interim financial information for the first quarter of 2015 and Note 25 (a) to the Annual Financial Statements for the year ended December 31, 2014</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -24.85pt; MARGIN: 6.8pt 35.6pt 0pt 83.55pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>(b)</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Reconciliation between gross operating income and net operating income</FONT></B><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>:</FONT></B></H4>

<P style="MARGIN: 0.2pt 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<P style="MARGIN: 0.15pt 0in 0pt"><B><FONT style="FONT-SIZE: 1pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

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

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 40pt" 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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><B><FONT style="FONT-SIZE: 9pt" 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="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>April to </FONT></B></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; 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=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>January to </FONT></B></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; 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=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>April to </FONT></B></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; 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=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 2014</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>January to </FONT></B></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; 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=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 2014</FONT></B></P></DIV></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" 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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>2,047,242</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>4,051,734</FONT></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: 2pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>2,224,017</FONT></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: 2pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>4,668,448</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Construction revenue (Note 13 (c))</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>904,760</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>1,493,226</FONT></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: 2pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>678,749</FONT></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: 2pt 2.85pt 0pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>1,209,976</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Sales tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>(129,150)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>(253,467)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>(148,613)</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>(332,341)</FONT></P></DIV></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Net revenue</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>2,822,852</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>5,291,493</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>2,754,153</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2pt 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>5,546,083</FONT></P></DIV></TD></TR></TABLE></DIV>

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

<P style="MARGIN: 0in 0in 0pt">&nbsp;</P><FONT style="LINE-HEIGHT: 5%"></FONT>

<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 65 of 76</FONT></P></DIV>

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<TR>

   <TD width="85%">

   <DIV>

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 4.15pt 35.6pt 0pt 58.7pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>25</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Operating Costs and Expenses</FONT></B></H4>

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

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

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 40pt" border=0 cellSpacing=0 cellPadding=0>



<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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 1pt"><B><FONT style="FONT-SIZE: 8pt" color=black 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="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>April to June </FONT></B></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; 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=right><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>January to June </FONT></B></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; 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=right><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>April to June <BR>2014</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>January to June 2014</FONT></B></P></DIV></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Operating costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black 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="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black 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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in -10pt 2.4pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Salaries and payroll charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>364,193</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>729,916</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>388,229</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>732,528</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in -10pt 2.4pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Pension obligations </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>14,900</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>29,421</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>11,982</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>23,751</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in -10pt 2.4pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Construction costs (Note 13 (c))</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>885,223</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,461,599</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>664,217</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>1,184,689</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in -10pt 2.4pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>General supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>41,602</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>88,780</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>43,595</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>88,545</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in -10pt 2.4pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Treatment supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>63,591</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>135,910</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>64,598</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>134,252</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in -10pt 2.4pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Outsourced services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>186,367</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>390,062</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>209,742</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>410,215</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in -10pt 2.4pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Electricity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>207,711</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>366,329</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>144,133</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>283,823</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in -10pt 2.4pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>General expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>77,374</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>162,934</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>100,409</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>208,389</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in -10pt 2.4pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Depreciation and amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" color=black face=georgia>264,448</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" color=black face=georgia>499,135</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" color=black face=georgia>203,228</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>442,658</FONT></P></DIV></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 1pt"><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,105,409</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>3,864,086</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,830,133</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>3,508,850</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 1pt"><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Selling expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN-TOP: 0in; MARGIN-LEFT: 10pt; MARGIN-RIGHT: -10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Salaries and payroll charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>58,891</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>115,065</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>60,628</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>115,500</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN-TOP: 0in; MARGIN-LEFT: 10pt; MARGIN-RIGHT: -10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Pension obligations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,931</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>3,816</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,540</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>3,093</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN-TOP: 0in; MARGIN-LEFT: 10pt; MARGIN-RIGHT: -10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>General supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>832</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,835</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,071</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>2,170</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN-TOP: 0in; MARGIN-LEFT: 10pt; MARGIN-RIGHT: -10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Outsourced services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>60,307</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>116,514</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>65,856</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>127,985</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN-TOP: 0in; MARGIN-LEFT: 10pt; MARGIN-RIGHT: -10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Electricity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>186</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>355</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>138</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>304</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN-TOP: 0in; MARGIN-LEFT: 10pt; MARGIN-RIGHT: -10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>General expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>22,195</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>41,422</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>21,795</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>41,081</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN-TOP: 0in; MARGIN-LEFT: 10pt; MARGIN-RIGHT: -10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Depreciation and amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,452</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>4,925</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,569</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>5,368</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN-TOP: 0in; MARGIN-LEFT: 10pt; MARGIN-RIGHT: -10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Allowance for doubtful accounts, net of recoveries (Note 8 (c))</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" color=black face=georgia>177</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" color=black face=georgia>47,520</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" color=black face=georgia>61,635</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>76,328</FONT></P></DIV></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 1pt"><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>146,971</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>331,452</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>215,232</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>371,829</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 1pt"><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in -10pt 2.4pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Salaries and payroll charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>42,760</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>91,151</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>46,616</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>88,753</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in -10pt 2.4pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Pension plan</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>46,144</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>93,985</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>42,407</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>84,515</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in -10pt 2.4pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>GESP reimbursement&#8211; benefits paid (Note 9 (b))</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>(696,283)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>-</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in -10pt 2.4pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>General supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>651</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,113</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,291</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>3,339</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in -10pt 2.4pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Outsourced services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>23,358</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>59,356</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>75,985</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>128,043</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in -10pt 2.4pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Electricity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>428</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>710</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>256</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>418</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in -10pt 2.4pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>General expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(50,874)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(101,259)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>67,801</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>93,204</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in -10pt 2.4pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Depreciation and amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>17,187</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>33,335</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>16,797</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>34,826</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in -10pt 2.4pt 10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Tax expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" color=black face=georgia>18,278</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" color=black face=georgia>38,216</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" color=black face=georgia>17,551</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>37,280</FONT></P></DIV></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 1pt"><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>97,932</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(479,676)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>269,704</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>470,378</FONT></P></TD></TR></TABLE></DIV>

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

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV>

<DIV align=left>&nbsp;</DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<DIV align=left>&nbsp;</DIV>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 40pt" border=0 cellSpacing=0 cellPadding=0>



<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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 1pt"><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>April to June </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>January to June </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2015</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>April to June </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>2014</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=georgia>January to June 2014</FONT></B></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Operating costs and expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" 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="48%">

   <P style="TEXT-ALIGN: justify; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 10pt; MARGIN-RIGHT: -10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Salaries and payroll charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>465,844</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>936,132</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>495,473</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>936,781</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="48%">

   <P style="TEXT-ALIGN: justify; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 10pt; MARGIN-RIGHT: -10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Pension plan</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>62,975</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>127,222</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>55,929</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>111,359</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="48%">

   <P style="TEXT-ALIGN: justify; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 10pt; MARGIN-RIGHT: -10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>GESP reimbursement&#8211; benefits paid (Note 9 (b))</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(696,283)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>-</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="48%">

   <P style="TEXT-ALIGN: justify; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 10pt; MARGIN-RIGHT: -10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Construction costs (Note 13 (c))</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>885,223</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>1,461,599</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>664,217</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>1,184,689</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="48%">

   <P style="TEXT-ALIGN: justify; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 10pt; MARGIN-RIGHT: -10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>General supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>43,085</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>91,728</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>46,957</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>94,054</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="48%">

   <P style="TEXT-ALIGN: justify; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 10pt; MARGIN-RIGHT: -10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Treatment supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>63,591</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>135,910</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>64,598</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>134,252</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="48%">

   <P style="TEXT-ALIGN: justify; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 10pt; MARGIN-RIGHT: -10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Outsourced services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>270,032</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>565,932</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>351,583</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>666,243</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="48%">

   <P style="TEXT-ALIGN: justify; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 10pt; MARGIN-RIGHT: -10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Electricity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>208,325</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>367,394</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>144,527</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>284,545</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="48%">

   <P style="TEXT-ALIGN: justify; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 10pt; MARGIN-RIGHT: -10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>General expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>48,695</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>103,097</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>190,005</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>342,674</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="48%">

   <P style="TEXT-ALIGN: justify; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 10pt; MARGIN-RIGHT: -10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Depreciation and amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>284,087</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>537,395</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>222,594</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>482,852</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="48%">

   <P style="TEXT-ALIGN: justify; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 10pt; MARGIN-RIGHT: -10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Tax expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>18,278</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>38,216</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=georgia>17,551</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 1pt" align=right><FONT style="FONT-SIZE: 9pt" face=georgia>37,280</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="48%">

   <P style="TEXT-ALIGN: justify; MARGIN-BOTTOM: 2.4pt; MARGIN-LEFT: 10pt; MARGIN-RIGHT: -10pt"><FONT style="FONT-SIZE: 9pt" color=#000000 face=georgia>Allowance for doubtful accounts, net of recoveries (Note 8 (c)) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" color=black face=georgia>177</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" color=black face=georgia>47,520</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" color=black face=georgia>61,635</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>76,328</FONT></P></DIV></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 1pt"><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,350,312</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" color=black face=georgia>3,715,862</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2,315,069</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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><FONT style="FONT-SIZE: 9pt" face=georgia>4,351,057</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.25pt 0in 0pt"><FONT style="FONT-SIZE: 11.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV>

<DIV align=left>&nbsp;</DIV><FONT style="LINE-HEIGHT: 5%"></FONT>

<P style="MARGIN: 0.5pt 0in 0pt"><FONT style="FONT-SIZE: 13pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 4.15pt 35.6pt 0pt 58.7pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" color=black face=Georgia>26</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Financial Expenses and Income</FONT></B></H4>

<P style="MARGIN: 0in 35.6pt 0pt 65.6pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US 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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" 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="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>April to </FONT></B></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; 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=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>January to </FONT></B></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; 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=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>April to </FONT></B></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; 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=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 2014</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>January to </FONT></B></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; 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=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 2014</FONT></B></P></DIV></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Financial expenses</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Interest and charges on loans and financing &#8211; </FONT></FONT></P>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>local currency </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(81,058)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(167,721)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(79,962)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(162,171)</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Interest and charges on loans and financing &#8211; </FONT></FONT></P>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(25,075)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(55,542)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(23,098)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(47,441)</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Other financial expenses</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(34,020)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(56,637)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(20,994)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(42,025)</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Income tax over international remittance</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(5,025)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(8,938)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(4,154)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(6,739)</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Inflation adjustment on loans and financing (i)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(41,609)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(97,750)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(28,932)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(61,986)</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Inflation adjustment on Sabesprev Mais deficit</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(496)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(928)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(345)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(684)</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Other inflation adjustments</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(4,636)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(9,027)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(3,378)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(5,869)</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Interest and inflation adjustments on provisions (ii)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>13,008</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>12,009</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>(29,546)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(49,492)</FONT></FONT></P></DIV></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Total financial expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>(178,911)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>(384,534)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>(190,409)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>(376,407)</FONT></FONT></P></DIV></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Financial income</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Inflation adjustment gains</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>34,799</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>65,112</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>10,894</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>36,238</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Income on short-term investments</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>47,879</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>94,911</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>48,398</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>96,104</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Interest and other income</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>41,138</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>67,622</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>25,583</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>49,385</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Dividends </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>1,526</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>1,526</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>-</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>-</FONT></FONT></P></DIV></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Total financial income</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>125,342</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>229,171</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>84,875</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>181,727</FONT></FONT></P></DIV></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Financial, net before foreign exchange variations</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>(53,569)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>(155,363)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>(105,534)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>(194,680)</FONT></FONT></P></DIV></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" 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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Net foreign exchange gains (losses)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" 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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Foreign exchange change on loans and financing (iii)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>209,114</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(675,304)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>84,228</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>201,264</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Other foreign exchange variations</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(201)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(308)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(3)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(30)</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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Foreign exchange gains</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>48</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>607</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>(268)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>(612)</FONT></FONT></P></DIV></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Foreign exchange variations, net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>208,961</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>(675,005)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>83,957</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>200,622</FONT></FONT></P></DIV></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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="48%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Financial, net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>155,392</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>(830,368)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>(21,577)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2.4pt 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" color=black face=georgia>5,942</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

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

<P style="MARGIN: 0.35pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: -22.05pt; MARGIN: 4.15pt 40.5pt 0pt 115.25pt"><FONT style="LINE-HEIGHT: 112%" face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(i)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 112%" face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>The monetary variation derives from increase in the indexes defined in the loan agreements, such as, TR and IPCA, which were 0.4% and 2.3%, respectively, in the second quarter of 2015 (0.2% and 1.5%, respectively, in same period of 2014). The exposures to these rates are shown in Note 4.1 (d).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: -22.05pt; MARGIN: 4.15pt 40.5pt 0pt 115.25pt"><FONT style="LINE-HEIGHT: 112%" face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(ii)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 112%" face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia>The variation is mainly due to reversal of inflation adjustment of environmental claims, due to court decision favorable to the Company.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; TEXT-INDENT: -22.05pt; MARGIN: 4.15pt 40.5pt 0pt 115.25pt"><FONT style="LINE-HEIGHT: 112%" face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" lang=EN-US face=georgia>(iii)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 112%" color=black face=georgia><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>The variation in foreign exchange expenses mainly derives from depreciation of the US dollar and Yen in the second quarter of 2015, of 3.3% and 5.0%, respectively, compared to depreciation of 2.7% and 1.0%, respectively, in the same period of 2014.</FONT></FONT></P><FONT style="LINE-HEIGHT: 112%" face=georgia></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 4.15pt 59.6pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

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<H4 style="TEXT-INDENT: -34.5pt; MARGIN: 4.15pt 35.6pt 0pt 58.7pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" color=black face=Georgia>27</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" 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: 9.5pt" color=black face=Georgia>Other operating income (expenses), net</FONT></B></H4>

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<P style="LINE-HEIGHT: 1pt; MARGIN: 0in 0in 0pt 343.75pt"><FONT style="FONT-SIZE: 1pt" lang=EN-US face=georgia></FONT>&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><B><FONT style="FONT-SIZE: 9pt" 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="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>April to </FONT></B></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; 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=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>January to </FONT></B></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; 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=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>April to </FONT></B></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; 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=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 2014</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>January to </FONT></B></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; 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=right><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June 2014</FONT></B></P></DIV></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" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" 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="48%" 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" color=black face=georgia>Other net operating income </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>35,186</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>64,469</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>21,638</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>38,145</FONT></FONT></P></TD></TR>

<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><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Other operating expenses </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(23,409)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(20,635)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(16,429)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(76,005)</FONT></FONT></P></DIV></TD></TR>

<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><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="13%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="48%" 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" color=black face=georgia>Other operating income (expenses), net</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>11,777</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>43,834</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>5,209</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(37,860)</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 20.95pt 35.6pt 0pt 58.7pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 1.35pt; MARGIN: 0in 0in 0pt 343.7pt"><FONT style="FONT-SIZE: 1pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 40.5pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Other operating income is comprised by sale of property, plant and equipment, sale of contracts awarded in public bids, electricity selling right, indemnities and reimbursement of expenses, fines and collaterals, property leases, reuse water, PURA projects and services</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.15pt 0in 0pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 40.5pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>Other operating expenses consist mainly of write-off of concessions due to obsolescence, discontinued construction works, unproductive wells, projects considered economically unfeasible, losses on property, plant and equipment</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0.1pt 0in 0pt"><FONT style="FONT-SIZE: 10.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.55pt; MARGIN: 4.15pt 35.6pt 0pt 58.75pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>28</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Commitments</FONT></B></H4>

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

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

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 5.2pt 59.75pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" 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 June 30, 2015</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>:</FONT></P>

<P style="MARGIN: 0.45pt 0in 0pt"><FONT style="FONT-SIZE: 6.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 40pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%" 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" face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>June to </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>December 2015</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2016 &#8211; 2017</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2018 &#8211; 2019</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2020</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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>&nbsp;onwards</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Total</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 2pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" 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: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>587,200</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,147,896</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>267,666</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>4,225,624</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>6,228,386</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 2pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Contractual obligations- Investments</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2pt 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" color=black face=georgia>696,033</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2pt 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" color=black face=georgia>2,177,546</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2pt 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" color=black face=georgia>149,064</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2pt 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" 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: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2pt 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" color=black face=georgia>5,209,032</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 2pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" face=georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2pt 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" color=black face=georgia>1,283,233</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2pt 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" color=black face=georgia>3,325,442</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2pt 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" color=black face=georgia>416,730</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2pt 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" color=black face=georgia>6,412,013</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 17pt; 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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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: 2pt 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" color=black face=georgia>11,437,418</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0.3pt 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 4.15pt 35.6pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The main commitment refers to S&#227;o Louren&#231;o PPP. See Note 13 (h)</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt">&nbsp;</P><FONT style="LINE-HEIGHT: 5%"></FONT>

<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 69 of 76</FONT></P></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.5pt 0in 0pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-INDENT: -34.55pt; MARGIN: 4.15pt 35.6pt 0pt 58.75pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" color=black face=Georgia>29</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Additional information on cash flows</FONT></B></H4>

<P style="MARGIN: 0.5pt 0in 0pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="MARGIN: 0.5pt 0in 0pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US 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="64%" 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" 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="18%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>January to June </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2015</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>January to June </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%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" color=black face=georgia>2014</FONT></B></FONT></P></DIV></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="18%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="18%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="64%" 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" color=black face=georgia>Total additions of intangible assets (Note 13)</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,596,965</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,345,203</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="64%" 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" 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="18%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="18%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="64%" 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" 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=bottom width="18%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(400,964)</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(215,081)</FONT></FONT></P></DIV></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="18%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="18%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="64%" 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" 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=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,196,001</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>1,130,122</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="64%" 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" 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="18%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="18%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="64%" 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" 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=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="18%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="64%" 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" color=black face=georgia>Interest capitalized in the period (Note 13 (e))</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>148,021</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>74,718</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="64%" 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" color=black face=georgia>Contractors payable</FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(54,010)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>(6,926)</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="64%" 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" 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=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>62,605</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>70,251</FONT></FONT></P></TD></TR>

<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><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Public-Private-Partnership (Note 13 (h)) </FONT></FONT></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; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>186,405</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>-</FONT></FONT></P></TD></TR>

<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><FONT style="FONT-SIZE: 9pt" 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=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>26,316</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>51,751</FONT></FONT></P></TD></TR>

<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><FONT style="FONT-SIZE: 9pt" color=black face=georgia>Construction margin (Notes 13 (f) and 23)</FONT></FONT></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; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>31,627</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; MARGIN-LEFT: 2.85pt; BORDER-TOP: medium none; MARGIN-RIGHT: 2.85pt; 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%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>25,287</FONT></FONT></P></DIV></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; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" 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="18%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>400,964</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" color=black face=georgia>215,081</FONT></FONT></P></TD></TR></TABLE></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></FONT></DIV></DIV>

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<H4 style="TEXT-INDENT: -34.55pt; MARGIN: 4.15pt 35.6pt 0pt 58.75pt"><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 9.5pt" face=Georgia>30</FONT></B><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt" color=black face=Georgia>Events after the reporting period</FONT></B></H4>

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<P style="TEXT-INDENT: -17.5pt; MARGIN: 0in 35.6pt 0pt 93.75pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=georgia>Extraordinary Shareholders&#8217; Meeting</FONT></B></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.75pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>An Extraordinary Shareholders&#8217; Meeting (AGE) was held on July 21, 2015 to re-ratify Management and Fiscal Council members&#8217; overall compensation for the fiscal year of 2015, pursuant to the Management proposal disclosed.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.75pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.75pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>The overall compensation of Management and Fiscal Council members for the fiscal year of 2015 was approved by majority vote, in the maximum amount of four million, five hundred, thirty-six thousand, thirty-four reais and eighty-nine centavos (R$4,536,034.89). Such amount includes a fixed monthly compensation of R$20,590.00 for Officers; R$6,177.00 for members of the Board of Directors and R$4,118.00 for Fiscal Council members and other benefits, besides corresponding charges.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0.4pt 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<H4 style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -17.5pt; MARGIN: 0in 59.7pt 0pt 93.75pt"><FONT style="FONT-SIZE: 9.5pt; FONT-WEIGHT: normal" face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt; FONT-WEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Water Supply and Sewage Services Agreement</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 0in 59.75pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia>On August 5, 2015, the Company formalized the Water Supply and Sewage Services Agreement with the municipality of </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Santa</FONT><FONT style="LETTER-SPACING: -0.8pt; FONT-SIZE: 9.5pt" lang=EN-US face=Georgia> </FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>Isabel</FONT><FONT style="FONT-SIZE: 9.5pt" lang=EN-US color=black face=Georgia> for a 30-year term.</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Notes to the Interim Financial Information</FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

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<H4 style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 4.15pt 0in 0pt 58.7pt"><B><FONT style="FONT-SIZE: 9.5pt" face=Georgia>Comments on the Company&#8217;s projections</FONT></B></H4>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 112%; MARGIN: 5.2pt 73.6pt 0pt 58.7pt"><FONT style="FONT-SIZE: 9.5pt" 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></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 58.7pt"><FONT style="FONT-SIZE: 9.5pt" lang=EN-US face=Georgia>The projections monitoring occurs on an annual basis and are disclosed in the reference form.</FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Other Information Deemed as Relevant<B><FONT><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 12pt" face=arial,sans-serif> by the Company</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif></FONT></FONT></B></P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></DIV></DIV>

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<P style="TEXT-INDENT: 0in; MARGIN: 10.05pt 75.85pt 0pt 61.05pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face="times new roman">1.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>CHANGES IN INTEREST HELD BY CONTROLLING SHAREHOLDER, BOARD MEMBERS AND EXECUTIVE OFFICER</FONT></B><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=georgia>S</FONT></B></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>CONSOLIDATED SHAREHOLDING OF CONTROLLING SHAREHOLDERS, MANAGEMENT AND OUTSTANDING SHARES<BR>Position as of 06/30/2015</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: 10pt" color=black face=georgia>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: 10pt" color=black face=georgia>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: 10pt" color=black face=georgia>%</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>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: 10pt" color=black face=georgia>%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>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: 10pt" color=black 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: 10pt" color=black 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: 10pt" color=black 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: 10pt" color=black face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=georgia>Treasury Department</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=georgia>343,524,285 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>50.3%</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=georgia>343,524,285</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: 10pt" color=black face=georgia>50.3%</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>Management</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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: 10pt" 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: 10pt" 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: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=georgia>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: 10pt" color=black face=georgia>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>-</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=georgia>Executive Officers</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>-</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" 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: 10pt" 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: 10pt" 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: 10pt" 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: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>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: 10pt" color=black face=georgia>15 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>- </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="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>15 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>- </FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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: 10pt" 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: 10pt" 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: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>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: 10pt" color=black face=georgia>- </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>- </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>- </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>- </FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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: 10pt" 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: 10pt" 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: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>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="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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; 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: 10pt" 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; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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; 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: 10pt" color=black face=georgia></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="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" 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; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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; 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: 10pt" 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; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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; 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: 10pt" color=black face=georgia></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="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>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="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>343,524,285</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: 10pt" color=black face=georgia>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="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>343,524,285</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: 10pt" color=black face=georgia>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="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" 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; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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; 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: 10pt" 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; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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; 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: 10pt" color=black face=georgia></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="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" 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; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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; 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: 10pt" 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; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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; 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: 10pt" color=black face=georgia></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="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=georgia>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="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>339,985,569 </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: 10pt" color=black face=georgia>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="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>339,985,569</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: 10pt" color=black face=georgia>49.7%</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right"><FONT style="FONT-SIZE: 9pt" face=Arial>PAGE: 73 of 76</FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT face=Arial></FONT>&nbsp;</P>

   <P style="LINE-HEIGHT: 13.25pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif>Other Information Deemed as Relevant<B><FONT><FONT face=arial,sans-serif><B><FONT style="FONT-SIZE: 12pt" face=arial,sans-serif> by the Company</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif></FONT></FONT></B></P></DIV></TD>

   <TD vAlign=top width="15%">

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></DIV>

<DIV align=left>&nbsp;</DIV><FONT style="LINE-HEIGHT: 5%"></FONT></DIV>

<P style="MARGIN: 0.5pt 0in 0pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US face="times new roman"></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 92%; MARGIN-LEFT: 37.1pt" 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: 10pt" color=black face=georgia>CONSOLIDATED SHAREHOLDING OF CONTROLLING SHAREHOLDERS, MANAGEMENT AND OUTSTANDING SHARES<BR>Position as of 06/30/2014</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="40%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>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="20%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>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: 10pt" color=black face=georgia>%</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="20%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>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="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>%</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="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>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="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia></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: 10pt" color=black face=georgia></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="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia></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: 10pt" color=black face=georgia></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="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=georgia>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="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>343,524,285</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: 10pt" color=black face=georgia>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="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>343,524,285</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: 10pt" color=black face=georgia>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="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>Management</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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: 10pt" 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: 10pt" 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; 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: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=georgia>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: 10pt" color=black face=georgia>- </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>- </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="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>- </FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=georgia>Executive Officers</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>- </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>-</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" 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: 10pt" 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: 10pt" 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; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>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: 10pt" color=black face=georgia>- </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>- </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="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>- </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: 10pt" color=black face=georgia>- </FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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; 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: 10pt" 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; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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; 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: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>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: 10pt" color=black face=georgia>- </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: 10pt" color=black face=georgia>- </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="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>- </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: 10pt" color=black face=georgia>- </FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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: 10pt" 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; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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; 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: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>Other shareholders</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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: 10pt" 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; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" 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: 10pt" 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; 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: 10pt" 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; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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; 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: 10pt" color=black face=georgia></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="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>Total</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>343,524,285</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: 10pt" color=black face=georgia>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="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>343,524,285</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: 10pt" color=black face=georgia>50.3%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" 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; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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; 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: 10pt" 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; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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; 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: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" 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: 10pt" 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; 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: 10pt" 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; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" 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; 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: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=georgia>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="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia></FONT></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=georgia>339,985,584 </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: 10pt" color=black face=georgia>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="20%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=georgia>339,985,584</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: 10pt" color=black face=georgia>49.7%</FONT></P></TD></TR></TABLE><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></B></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 13pt" lang=EN-US face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -21.3pt; MARGIN: 3.45pt 35.6pt 0pt 82.35pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face="times new roman">2.</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>SHAREHOLDING POSITION</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US face="times new roman"></FONT></B>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>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>

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   <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="65%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=PT-BR color=black face=georgia>Company:<BR>CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>Position as of 06/30/2015<BR>(shares)</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia></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="35%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>Common 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: 10pt" color=black face=georgia>Total</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>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: 10pt" color=black face=georgia>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: 10pt" color=black face=georgia>%</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: 10pt" color=black face=georgia>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="14%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=black face=georgia>%</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=black face=georgia>Treasury Department</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 25.15pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia></FONT></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=georgia>343,524,285 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 25.15pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>50.3</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" face=georgia>343,524,285</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 25.15pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" color=black face=georgia>50.3</FONT></P></TD></TR></TABLE></DIV>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=arial,sans-serif><FONT face=arial,sans-serif></FONT></FONT></B>&nbsp;</P></DIV></TD>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE></FONT></B></DIV></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></B>&nbsp;</P>

<H2 style="MARGIN: 9.7pt 14.6pt 0pt 6.3pt"><B><FONT style="FONT-SIZE: 12pt" face=Arial,sans-serif>Reports and Statements / Unqualified Report on Special Review</FONT></B></H2>

<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: 0.15pt 0in 0pt"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="LINE-HEIGHT: 110%; MARGIN: 1in 52.2pt 12pt 42.55pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">(Convenience Translation into English from the Original Previously Issued in Portuguese)</FONT></FONT></P>

<P style="LINE-HEIGHT: 110%; MARGIN: 0in 52.2pt 12pt 42.55pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION</FONT></U></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 52.2pt 0pt 42.55pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">To the Shareholders, Board of Directors and Management of</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 52.2pt 0pt 42.55pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face="times new roman">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 52.2pt 12pt 42.55pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">S&#227;o Paulo - SP</FONT></U></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 12pt 52.2pt 12pt 42.55pt"><FONT style="LINE-HEIGHT: 110%" color=black face="times new roman"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">Introduction</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 52.2pt 0pt 42.55pt"><FONT style="LINE-HEIGHT: 110%" color=black face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">We have reviewed the accompanying interim financial information of </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">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="times new roman"> (the &#8220;Company&#8221;) included in the Quarterly Information Form (ITR), for the quarter ended June 30, 2015, which comprises the financial position as of June 30, 2015 and the related statements of income and comprehensive income for the three and six-month periods then ended and changes in equity and cash flows for the six-month period then ended, including the explanatory notes.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 52.2pt 0pt 42.55pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Calibri,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 52.2pt 0pt 42.55pt"><FONT style="LINE-HEIGHT: 110%" color=black face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">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 in accordance with international standard IAS&nbsp;34 - </FONT><I><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">Interim Financial Reporting</FONT></I><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">, 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, 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 52.2pt 12pt 42.55pt"><FONT style="LINE-HEIGHT: 110%" color=black face="times new roman"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">Scope of review</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 52.2pt 12pt 42.55pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">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 - </FONT><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">Review of Interim Financial Information Performed by the Independent Auditor of the Entity</FONT></I><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">, 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 52.2pt 12pt 42.55pt"><FONT style="LINE-HEIGHT: 110%" color=black face="times new roman"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">Conclusion on the interim financial information</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 52.2pt 12pt 42.55pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">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 CPC&nbsp;21&nbsp;(R1) and IAS&nbsp;34, applicable to the preparation of Interim Financial Information - ITR, and presented in accordance with the standards issued by the </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">Brazilian Securities and Exchange Commission</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">.</FONT></FONT></P><FONT style="LINE-HEIGHT: 110%" face="times new roman"></FONT>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt"><FONT color=black face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR color=black face=arial,sans-serif>ITR - Quarterly Information Form</FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif> </FONT></FONT><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=arial,sans-serif>- 06/30/2015 - CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></FONT></P>

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   <P style="LINE-HEIGHT: 10.2pt; MARGIN: 0in 0in 0pt 1pt" align=right><FONT face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=arial,sans-serif>Version: 1</FONT></FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 12pt 52.2pt 0pt 42.55pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">Other matters</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 12pt 52.2pt 0pt 42.55pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">Statements of value added</FONT></I></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 12pt 52.2pt 0pt 42.55pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">We have also reviewed the statements of value added (DVA) for the six-month period ended June 30, 2015, prepared under the responsibility of the Company&#8217;s Management, the presentation of which is required by the standards issued by the CVM - </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">Brazilian Securities and Exchange Commission</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"> applicable to the preparation of Interim Financial Information - ITR and considered as supplemental information by IFRSs, 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 interim financial information taken as a whole.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 52.2pt 0pt 42.55pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman"></FONT></I></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 12pt 52.2pt 0pt 42.55pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">The accompanying </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face="times new roman">interim financial information </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="times new roman">has been translated into English for the convenience of readers outside Brazil.</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 52.2pt 0.5in 42.55pt"><FONT style="LINE-HEIGHT: 110%" face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=PT-BR face="times new roman">S&#227;o Paulo, August 13, 2015</FONT></FONT></P>

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<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;August 31, 2015</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;Rui de Britto &#193;lvares Affonso&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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