<SEC-DOCUMENT>0001292814-15-003179.txt : 20151223
<SEC-HEADER>0001292814-15-003179.hdr.sgml : 20151223
<ACCEPTANCE-DATETIME>20151223064413
ACCESSION NUMBER:		0001292814-15-003179
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20151231
FILED AS OF DATE:		20151223
DATE AS OF CHANGE:		20151223

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:		151304249

	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>sbs20151214_6k.htm
<DESCRIPTION>SUMMARY OF THE MINUTES OF THE 817TH
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<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>

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

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

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<DIV><FONT color=#000000 size=2 face="Times New Roman"><B>For&nbsp;December 14, 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>

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

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

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

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

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

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

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

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

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

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.55pt 0pt 0cm" align=right><FONT face=verdana,sans-serif><FONT style="FONT-SIZE: 9pt" face=verdana,sans-serif>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo</FONT></FONT></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.55pt 0pt 0cm" align=right><FONT face=verdana,sans-serif><FONT style="FONT-SIZE: 9pt" face=verdana,sans-serif>Board of Directors</FONT></FONT><FONT face=verdana,sans-serif></FONT></P></DIV></TD></TR></TABLE></DIV><FONT face="folio md bt,sans-serif"><FONT lang=PT-BR style="FONT-SIZE: 14pt" face="folio md bt,sans-serif">&nbsp;</FONT></FONT>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=Arial,sans-serif><BR clear=all></FONT><FONT lang=PT-BR style="FONT-SIZE: 11pt" face="times new roman">&nbsp;</FONT></P></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 18.2pt 0pt 0cm" align=center><FONT lang=PT-BR style="FONT-SIZE: 9.5pt" face=verdana,sans-serif><STRONG>COMPANHIA DE SANEAMENTO B&#193;SICO DO ESTADO DE S&#195;O PAULO - SABESP</STRONG></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 18.2pt 0pt 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>CORPORATE TAXPAYER&#8217;S ID (CNPJ): 43.776.517/0001-80</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 18.2pt 0pt 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>COMPANY REGISTRY (NIRE): 35.3000.1683-1</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 18.2pt 0pt 0cm; LINE-HEIGHT: 150%" align=center><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 3.95pt 0pt 0cm; LINE-HEIGHT: 150%" align=center><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>SUMMARY OF THE MINUTES OF THE 817TH </FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 3.95pt 0pt 0cm; LINE-HEIGHT: 150%" align=center><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>BOARD OF DIRECTORS&#8217; MEETING</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 3.95pt 6pt 0cm; LINE-HEIGHT: 150%"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 3.95pt 6pt 0cm; LINE-HEIGHT: 150%"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>On December 09, 2015, at 2:00 p.m., the Chairman of the Board of Directors, Benedito Pinto Ferreira Braga Junior, pursuant to the caput and Paragraph 4 of Article 12 of the Bylaws called via-email an extraordinary meeting of the Board of Directors of Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo &#8211; SABESP, located at Rua Costa Carvalho, 300, S&#227;o Paulo, which was attended by the appointed and undersigned members to resolve in an executive session on the </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>sole item</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif> on the agenda &#8220;</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Approval of conditions applicable to the 20th issuance of debentures</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>&#8221;, which was based on the Board of Resolution No. 0281/2015 of 12/08/2015, the Internal Communication FI 035/2015 of 12/07/2015, and power point presentation, documents filed in the online folder of this meeting. The matter was put to a vote, pursuant to Article 59, paragraph 1 of Law 6,404, of December 15, 1976, (&#8220;</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Brazilian Corporate Law</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>&#8221;) in accordance with Article 13, paragraphs X and XIII of the Bylaws, and in addition to the general conditions of the 20th issuance of debentures approved at the 816th Board of Directors&#8217; Meeting held on November 27, 2015, </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>the conditions applicable to the 20th issuance of nonconvertible unsecured debentures, in a single series, for public distribution with restricted placement efforts,</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif> pursuant to CVM Instruction 476, of January 16, 2009, as amended (&#8220;</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Debentures</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>&#8221; and &#8220;</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>CVM Instruction 476</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>&#8221;, respectively), were unanimously approved, as described below:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=PT-BR style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>1)</FONT></B><B><FONT lang=PT-BR style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=PT-BR style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Issuer</FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>: Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo &#8211; SABESP.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>2)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Issue Amount:</FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif> R$500,000,000.00 (five hundred million reais).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>3)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Series:</FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 9.5pt; LAYOUT-GRID-MODE: line" color=black face=verdana,sans-serif>Single</FONT><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>4)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Type:</FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif> Unsecured.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>5)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Date of Issue:</FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif> For all legal purposes and effects, the date of issue will be December 20, 2015 (&#8220;</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Date of Issue</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>&#8221;).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>6)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Format and Convertibility: </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>The Debentures will be registered, book-entry, nonconvertible into shares and without issuance of certificates.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>7)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Quantity:</FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif> 50,000 (fifty thousand) Debentures. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>8)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Nominal Unit Value: </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>R$10,000.00 (ten thousand reais) on the Date of Issue (&#8220;</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Nominal Unit Value</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>&#8221;).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>9)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Placement and Distribution Procedure: </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>The Debentures will be distributed through a public offering with restricted efforts, in accordance with CVM Rule 476, under firm guarantee of </FONT></FONT>


<FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>placement, with the intermediation of financial institutions in the distribution system of securities (jointly, "Coordinators"). For this purpose, the Coordinators may identify a maximum of 75 (seventy five) qualified investors, pursuant to Article 9-A of CVM Instruction 539, of November 13, 2013, with the Debentures subscribed to or acquired by a maximum of 50 (fifty) qualified investors. In accordance with Article 6 of CVM Instruction 476, the public offering with restricted efforts of the Debentures is automatically exempted from registration at the Brazilian Securities and Exchange Commission (CVM). </FONT></FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.55pt 0pt 0cm" align=right><FONT face=verdana,sans-serif><FONT style="FONT-SIZE: 9pt" face=verdana,sans-serif>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo</FONT></FONT></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.55pt 0pt 0cm" align=right><FONT face=verdana,sans-serif><FONT style="FONT-SIZE: 9pt" face=verdana,sans-serif>Board of Directors</FONT></FONT><FONT face=verdana,sans-serif></FONT></P></DIV></TD></TR></TABLE></DIV><FONT face="folio md bt,sans-serif"><FONT lang=PT-BR style="FONT-SIZE: 14pt" face="folio md bt,sans-serif">&nbsp;</FONT></FONT>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=Arial,sans-serif><BR clear=all></FONT><FONT lang=PT-BR style="FONT-SIZE: 11pt" face="times new roman">&nbsp;</FONT></P></DIV>




<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>10)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Subscription Price and Payment:</FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif> The Debentures will be subscribed and paid up, in the primary market, by the Nominal Unit Value, plus the Remuneration, calculated pro rata temporis from the date of first payment ("</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Date of Payment</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>") until the date of their effective subscription and payment. The payment of the Debentures will be made in cash, in national currency, through the Securities Distribution System (&#8220;</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>SDT</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>&#8221;), managed and run by CETIP S.A. &#8211; Mercados Organizados (&#8220;</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>CETIP</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>&#8221;), as from the date of beginning of the distribution.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>11)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Monetary Restatement:</FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif> The Nominal Unit Value will not be adjusted to any index. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>12)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Remuneration: </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>The Debentures will be entitled to remuneration (&#8220;Remuneration&#8221;) corresponding to 100% (one hundred percent) of the accumulated variation of the daily Interbank Deposit Rate &#8211; DI, extra-group, expressed as a one-year percentage, based on 252 (two hundred and fifty two) business days, calculated and disclosed by CETIP on a daily basis in the bulletin available on its website (http://www.cetip.com.br), plus the spread or surcharges of 3.80% (three point eighty percent) per year, based on 252 (two hundred and fifty two) business days.</FONT></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif> </FONT></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>The Remuneration will be calculated exponentially and cumulatively pro rata temporis, per business day, on the Nominal Unit Value, as of the Date of Payment or the date of the last payment of the Remuneration, whichever the case, and will be paid in biannual installments at the end of each Yield Period.</FONT></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif> </FONT></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>In order to calculate the Debentures Remuneration, the "</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Yield Period</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>" is defined as the length of time starting on the Date of Payment, including this day, in the case of the first Yield Period, or on the maturity date of the previous Remuneration, including this day, in the case of other Yield Periods, and ends on the next due date of Remuneration, excluding this day.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>13)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Term: </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Except in the events of optional acquisition, optional total early redemption and/or early maturity, whichever the case, as defined in the indenture of issue ("</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Indenture of Issue</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>"), the Debentures will mature in 4 (four) years, as of the Date of Issue, that is December 20, 2019 (&#8220;</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Date of Maturity</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>&#8221;).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>14)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Guarantee:</FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif> None.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>15)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Amortization: </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Except in the events of optional acquisition, optional total early redemption, optional partial extraordinary amortization and/or early maturity, as defined in the Indenture of Issue, the amortization of the Debentures will take place in 2 (two) consecutive annual installments, with the first installment on 20 December 2018, in an amount of 50% (fifty percent) of the Nominal Unit Value or balance of Nominal Unit Value, as applicable, and the second, on the </FONT></FONT>


<FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Date of Maturity, in an amount corresponding to the remaining balance of the Nominal Unit Value.</FONT></FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.55pt 0pt 0cm" align=right><FONT face=verdana,sans-serif><FONT style="FONT-SIZE: 9pt" face=verdana,sans-serif>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo</FONT></FONT></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.55pt 0pt 0cm" align=right><FONT face=verdana,sans-serif><FONT style="FONT-SIZE: 9pt" face=verdana,sans-serif>Board of Directors</FONT></FONT><FONT face=verdana,sans-serif></FONT></P></DIV></TD></TR></TABLE></DIV><FONT face="folio md bt,sans-serif"><FONT lang=PT-BR style="FONT-SIZE: 14pt" face="folio md bt,sans-serif">&nbsp;</FONT></FONT>

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<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>16)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Place of Payment: </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>The payments related to the Debentures will be made by the Issuer on the respective maturity date in accordance with: (a) the procedures adopted by CETIP, for the Debentures held in electronic custody by CETIP; and/or (b) the procedures adopted by the settlement bank, for the Debentures that are not held in electronic custody by CETIP ("</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Place of Payment</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>").</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>17)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Extension of Terms: </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>The periods for the payment of any obligations arising from the Debentures will be extended until the subsequent business day, if the due date coincides with a day that is not a business or banking day in the Place of Payment or in the City of S&#227;o Paulo, State of S&#227;o Paulo, without any increase in the amounts to be paid, except for cases in which the payments must be made through CETIP, in which case an extension is granted only when the due date falls on a national holiday, Saturday and/or Sunday.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>18)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Allocation of Funds: </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>The proceeds from the issuance of Debentures will be allocated to cash recovery of the Issuer and refinance of financial commitments maturing in the first quarter of 2016.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>19)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Registration for Placement and Trade: </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>The Debentures will be registered for (a) public distribution on the primary market through the SDT, managed and run by CETIP, with distribution settled by CETIP; and (b) trading on the secondary market through CETIP21 &#8211; T&#237;tulos e Valores Mobili&#225;rios, managed and run by CETIP, with trades settled financially and the Debentures held in custody electronically by CETIP.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>20)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Optional Acquisition: </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>The Issuer may, at any time, acquire outstanding Debentures, pursuant to Article 55, paragraph 3 of the Brazilian Corporate Law. The Debentures acquired by the Issuer may be: (i) canceled, through a deliberate act of the Issuer; (ii) held in the Issuer&#8217;s treasury; or (iii) once again placed on the market, subject to the trading restrictions provided for in CVM Instruction 476. The Debentures acquired by the Issuer and held in treasury, once placed on the market again, will be entitled to the same remuneration as the other outstanding Debentures.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>21)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Optional Total Early Redemption: </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>The optional early redemption of the Debentures may occur at any time at the Issuer's discretion, from the 18th (eighteenth) month from the Date of Issue, that is, June 20, 2017, including this day, in relation to the total number of outstanding Debentures (&#8220;</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Total Early Redemption</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>"). The Total Early Redemption will take place upon payment of the Nominal Unit Value plus the Remuneration, calculated pro rata temporis as of the date of the last payment of Remuneration until the date of effective redemption, with no addition in the form of redemption premium, in accordance with the procedure adopted by CETIP for the Debentures under electronic custody at CETIP and other procedures described in the Indenture of Issue. The Total Early Redemption will take place upon publication of communication addressed to the Debenture holders, as well as preceded by written notification to the Trustee, no less than 10 </FONT></FONT>


<FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>(ten) days before the effective date of the Total Early Redemption. The Debentures redeemed in accordance with the Indenture of Issue shall be cancelled by the Issuer. </FONT></FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.55pt 0pt 0cm" align=right><FONT face=verdana,sans-serif><FONT style="FONT-SIZE: 9pt" face=verdana,sans-serif>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo</FONT></FONT></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.55pt 0pt 0cm" align=right><FONT face=verdana,sans-serif><FONT style="FONT-SIZE: 9pt" face=verdana,sans-serif>Board of Directors</FONT></FONT><FONT face=verdana,sans-serif></FONT></P></DIV></TD></TR></TABLE></DIV><FONT face="folio md bt,sans-serif"><FONT lang=PT-BR style="FONT-SIZE: 14pt" face="folio md bt,sans-serif">&nbsp;</FONT></FONT>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=Arial,sans-serif><BR clear=all></FONT><FONT lang=PT-BR style="FONT-SIZE: 11pt" face="times new roman">&nbsp;</FONT></P></DIV>




<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>22)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Optional Partial Extraordinary Amortization: </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>The Optional Partial Extraordinary Amortization of the Debentures may occur at any time at the Issuer's discretion, from the 18th (eighteenth) month from the Date of Issue, that is, June 20, 2017, including this day ("</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Partial Extraordinary Amortization</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>"). The Partial Extraordinary Amortization shall be proceeded by written notification to the Trustee, no less than ten (10) days before the payment of the Partial Extraordinary Amortization, and limited to 90% (ninety percent) of the Nominal Unit Value or the balance of the Nominal Unit Value, plus the Remuneration and other charges due and unpaid, up to the date of the Partial Extraordinary Amortization, with no additions in the form of premiums, subject to other proceedings to be described in the Indenture if Issue.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>23)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" color=black face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black face=verdana,sans-serif>Default Charges: </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" color=black face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black face=verdana,sans-serif>Without prejudice to the Remuneration, if there is any delay in the payment of any amount due to holders of the Debentures, the late payments will be subject to non-compensatory fine of 2% (two percent) of the amount due and overdue charges shall be calculated from the date of default to the date of effective payment, at a rate of 1% (one percent) per month on the overdue amount, independently of a notice, notification or legal or any other intervention, in addition to expenses incurred by holders of the Debentures in collecting their credits.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>24)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Potential Early Redemption Events: </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>The Debentures will have early redemption declared in case of the events envisaged in the Indenture of Issue, as negotiated with the Coordinators.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0cm; LINE-HEIGHT: 150%; TEXT-INDENT: 0cm"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>25)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman"> </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Renegotiation: </FONT></B></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>The Debentures will not be renegotiated.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0pt; LINE-HEIGHT: 150%"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>The Board of Directors also authorized the members of the Company's Board of Executive Officers, with due regard for all legal and statutory terms, to execute any and all acts related to the 20th Issue of Simple, Unsecured, Nonconvertible Debentures in a single series, ratifying all acts related to the 20th Issue that have already been conducted by the Board of Executive Officers.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 18.2pt 6pt 0cm; LINE-HEIGHT: 150%"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>(...)</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 18.2pt 12pt 0cm; LINE-HEIGHT: 150%"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>These minutes, after being approved, were signed by the attending members of the Board of Directors: Benedito Pinto Ferreira Braga Junior, Alberto Goldman, Cl&#225;udia Polto da Cunha, Francisco Vidal Luna, Jer&#244;nimo Antunes, Jerson Kelman, </FONT></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Luis Eduardo de Assis, Reinaldo Guerreiro, Sidnei Franco da Rocha and Walter Tesch.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 18.2pt 0pt 0cm; LINE-HEIGHT: 150%"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>This is a free English translation of the excerpt of the original minutes drawn up in the Book of Minutes of the Board of Directors.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 18.2pt 0pt 0cm; LINE-HEIGHT: 150%"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 18.2pt 0pt 0cm; LINE-HEIGHT: 150%"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>S&#227;o Paulo, December 09, 2015.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 18.2pt 0pt 0cm; LINE-HEIGHT: 150%"><FONT style="BACKGROUND: yellow; LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 18.2pt 0pt 0cm; LINE-HEIGHT: 150%"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif></FONT></FONT>&nbsp;</P>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="53%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 18.2pt 0pt 0cm"><B><FONT style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Benedito Pinto Ferreira Braga Junior</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="47%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 18.2pt 0pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Marialve S. Martins</FONT></B></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="53%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 18.2pt 0pt 0cm"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Chairman of the </FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 18.2pt 0pt 0cm"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Board of Directors </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="47%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 18.2pt 0pt 0cm"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Secretary of the </FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 18.2pt 0pt 0cm"><FONT lang=EN-US style="FONT-SIZE: 9.5pt" face=verdana,sans-serif>Board of Directors </FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="DISPLAY: none"><B><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></B></FONT><B><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Arial,sans-serif>4</FONT></B><FONT style="DISPLAY: none"><B><FONT lang=PT-BR style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></B></FONT></P></DIV></DIV>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B><U>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B><U>SIGNATURE&nbsp;</U></B></FONT><FONT size=1>&nbsp;</FONT></DIV></U></B></FONT>

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

<DIV align=justify><FONT color=#000000 size=3 face="Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the city S&#227;o Paulo, Brazil. <BR></FONT></DIV>

<DIV align=justify><FONT color=#000000 size=3 face="Times New Roman">Date:&nbsp;<FONT size=3 face="Times New Roman">December 14</FONT>, 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 height=16></TD>

   <TD height=16></TD>

   <TD height=16></TD></TR>

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   <TD vAlign=top align=left><FONT color=#000000 size=2 face="Times New Roman">By:</FONT></TD>

   <TD vAlign=bottom align=left>/s/&nbsp;&nbsp;<FONT style="FONT-FAMILY: times new roman" size=3>Rui de Britto &#193;lvares Affonso</FONT>&nbsp;&nbsp;&nbsp;&nbsp;

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</TD>

   <TD></TD></TR>

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

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

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman">Name: Rui de Britto &#193;lvares Affonso </FONT></DIV>

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman">Title: Chief Financial Officer and Investor Relations Officer </FONT></DIV></TD>

   <TD></TD></TR></TABLE></DIV>

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

<P>&nbsp;</P>

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

<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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