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<SEC-DOCUMENT>0001104659-06-052317.txt : 20060808
<SEC-HEADER>0001104659-06-052317.hdr.sgml : 20060808
<ACCEPTANCE-DATETIME>20060808111628
ACCESSION NUMBER:		0001104659-06-052317
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		22
CONFORMED PERIOD OF REPORT:	20060808
FILED AS OF DATE:		20060808
DATE AS OF CHANGE:		20060808

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ENERGY CO OF MINAS GERAIS
		CENTRAL INDEX KEY:			0001157557
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15224
		FILM NUMBER:		061011661

	BUSINESS ADDRESS:	
		STREET 1:		AVENIDA BARBACENA 1200
		STREET 2:		30190 131 BELO HORIZONTE
		CITY:			MINAS GERAIS BRAZIL
		STATE:			D5
		BUSINESS PHONE:		2128395300

	MAIL ADDRESS:	
		STREET 1:		C/O SIDLEY AUSTIN BROWN & WOOD LLP
		STREET 2:		ONE WORLD TRADE CENTER
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10048-0557
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a06-17403_16k.htm
<DESCRIPTION>CURRENT REPORT OF FOREIGN ISSUER
<TEXT>
<html>

<head>






</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">
 <div style="border:none;border-top:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p style="border:none;margin:0pt 0pt .0001pt;padding:0pt;"><a name="scotch"></a></p> </div>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM
6-K</font></b></p>

<p align="center" style="font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b><b><font face="Times New Roman" style="font-weight:bold;"><br>
</font>WASHINGTON, D.C.&#160; 20549</b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">REPORT OF FOREIGN PRIVATE ISSUER<br>
PURSUANT TO RULE 13a-16 OR 15d-16 OF<br>
THE SECURITIES EXCHANGE ACT OF 1934</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">For the
month of August, 2006</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Commission
File Number 1-15224</font></b></p>

<p align="center" style="font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">Energy
Company of Minas Gerais<br>
</font></b>(Translation of Registrant&#146;s Name Into English)</p>

<p style="color:#000033;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-weight:bold;">Avenida Barbacena, 1200</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">30190-131 Belo Horizonte, Minas
Gerais, Brazil</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of
Principal Executive Offices)</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Indicate by check mark
whether the registrant files or will file annual reports under cover of Form
20-F or Form 40-F.</font></p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:20.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form 20-F </font><font face="Wingdings">x</font>
Form 40-F <font face="Wingdings">o</font></p>

<p style="color:#000033;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):&nbsp;</font><font face="Wingdings">o</font></p><p style="color:#000033;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):&nbsp;</font><font face="Wingdings">o</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Indicate by check mark
whether by furnishing the information contained in this Form, the registrant is
also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.</font></p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:20.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Yes </font><font face="Wingdings">o</font>
No &nbsp;<font face="Wingdings">x</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If &#147;Yes&#148; is marked,
indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b):&#160; N/A</font></p>


 <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p style="border:none;margin:0pt 0pt .0001pt;padding:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p> </div>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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<br clear="all" style="page-break-before:always;">

<div style="font-family:Times New Roman;">
 <p style="margin:0pt 0pt .0001pt;text-align:center;"></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Index</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --><b><font size="1" style="font-size:8.0pt;font-weight:bold;">Item</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:88.12%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description of Item</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:88.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:88.12%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Summary of Minutes of the 362</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">nd</font>&nbsp;meeting of the Board of Directors, October
  31, 2005</p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:88.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:88.12%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Summary of Minutes of the 370</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&nbsp;meeting of the Board of Directors, January
  4, 2006</p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:88.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:88.12%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Summary of Minutes of the 383</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">rd</font>&nbsp;meeting of the Board of Directors, May 3-4,
  2006</p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:88.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:88.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Summary Information on the Public Distribution of
  Commercial Paper Securities of the First Issue by CEMIG Distribui&#231;&#226;o S.A. in
  the amount of R$300,000,000.00</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:88.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:88.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Summary Information on the Public Distribution of
  Commercial Paper Securities of the First Issue by CEMIG Distribui&#231;&#226;o S.A. in
  the amount of R$900,000,000.00</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:88.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:88.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Announcement of Commencement of Public Distribution
  of the First Issue of Commercial Paper Securities by CEMIG Distribui&#231;&#226;o S.A.
  in the amount of R$300,000,000.00</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:88.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:88.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Announcement of Commencement of Public Distribution
  of the First Issue of Commercial Paper Securities by CEMIG Distribui&#231;&#226;o S.A.
  in the amount of R$900,000,000.00</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt 72.0pt;text-indent:-72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


 <p style="font-size:10.0pt;line-height:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">1</font></p>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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<br clear="all" style="page-break-before:always;">

<div>
 <p style="margin:0pt 0pt .0001pt;text-align:center;"></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:3.1pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman"><img width="576" height="88" src="g174031bc03i001.gif"></font></p>

<p align="center" style="font-family:Times New Roman;font-size:10.0pt;margin:4.45pt 0pt 12.0pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">COMPANHIA ENERG&#201;TICA DE MINAS
GERAIS &#150; CEMIG<br>
</font></b>Listed Company &#150; CNPJ 17.155.730/0001-64 &#150; NIRE 31300040127</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:5.0pt 0pt 12.0pt;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Summary Minutes of the 362</font></u></b><b><u><font size="1" style="font-size:6.5pt;font-weight:bold;position:relative;top:-3.0pt;">nd</font>&#160;meeting of the Board of Directors.</u></b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.15pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Date,
time and place:</font></b> Begun on October 27, 2005 at 10:00 a.m., and
resumed on October 31, 2005 at 12:00 noon, in the Company&#146;s head office, Av.
Barbacena 1200, 18<font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&#160;Floor, Belo Horizonte, Minas Gerais, Brazil.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.25pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Meeting
committee:</font></b> Chairman, Djalma Bastos de Morais; Secretary,
Anamaria Pugedo Frade Barros.</p>

<p style="margin:.55pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Summary
of events:</font></b></p>

<p style="margin:.45pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">I - The
Board approved:</font></b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 20.0pt;text-autospace:none;text-indent:-20.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>payment to
stockholders of Interest on Equity, on account of the minimum obligatory
dividend, in the amount of R$ 195 million, to stockholders whose names are in
the Nominal Share Registry on November 8, 2005, to be paid in two equal installments,
the first by June 30, 2006 and the second by December 30, 2006, and that the
Executive Board, obeying these periods, shall determine the locations and
processes of payment, according to Clause 31 of the Bylaws;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 20.0pt;text-autospace:none;text-indent:-20.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>payment to the
State of Minas Gerais of the amount of R$ 26,217,102.58, for the License Charge
for Use or Occupation of Highway Areas (the &#147;TFDR&#148;), so as to avoid an
infringement notice by the State&#146;s tax inspectors and the consequent addition
of a penalty payment and legal interest, on the following conditions:
negotiation, with Aneel, of pass-through to tariffs of the costs relating to
the amounts of the TFDR; and that, in the absence of a favorable statement by
Aneel on the request for pass-through of the said cost to the tariff within a
period of up to six months from payment of the Charge, the Board authorizes
filing of an action for recovery of undue payment, with application for
offsetting of credits, and that in the event of success, a proposal for
contracting of an external law office to accompany any case must be submitted
to the Board of Directors for approval; and the same procedures here proposed
to be adopted in the event of any subsequent charging of the TFDR;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 20.0pt;text-autospace:none;text-indent:-20.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the proposal of
Board Member Alexandre Heringer Lisboa, that the members of the Board of
Directors should authorize the Chairman to call the Extraordinary General
Meeting of Stockholders at such date and time that the Executive Board may
decide; and that in the absence of the minimum obligatory quorum the Chairman
should also be authorized to proceed to second convocation of the stockholders
in the legal period, for authorization of opening of administrative tender
proceedings, and also the contracting, directly with the insurance company, of
civil liability insurance for members of the Board of Directors, Directors and
Managers (D&amp;O), for secondary coverage of unintentional acts by the
Executives, as per item III, below; and, also,&#160;
</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 20.0pt;text-autospace:none;text-indent:-20.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the
Minutes of this meeting.</p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Av.Barbacena, &nbsp;&nbsp;1200 &nbsp;&nbsp;-&nbsp;&nbsp; Santo
Agostinho &#160; - CEP &nbsp;&nbsp;30190-131</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Belo Horizonte - MG - Brasil - Fax (0XX31)3299-3934 - Tel.:
(0XX31)3299-4524 </font></p>

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:.5pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">II - The
Board authorized:</font></b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 20.0pt;text-autospace:none;text-indent:-20.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>re-ratification
of CRCA-062/2004, for contracting of services for the use of a corporate credit
card, with a view to extension of the use of these services to the employees of
Cemig D, Cemig GT, Gasmig, Infovias and Efficientia S.A., wholly owned
subsidiaries controlled by Cemig, and also alteration of the estimated amounts,
for the period of 12 months and for the period of 60 months, which shall be
shared out between Cemig (2.55%), Cemig D (73%), Cemig GT (21%), Gasmig
(3.04%), Infovias (0.28%) and Efficientia S.A. (0.13%), in the Competition
mode, the other terms of that CRCA remaining unaltered;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 20.0pt;text-autospace:none;text-indent:-20.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>opening of
administrative tender proceedings, and contracting of services, for supply of
temporary labor to meet needs for transitory substitution of employees or
extraordinary increase in the workload of Cemig, Cemig GT or Cemig D, for a period
of 12 months, able to be extended, on signing of amendments, for up to 48
months, with a maximum limit of 60 months, the total price of which shall be
shared between Cemig (5%), Cemig GT (47.5%) and Cemig D (47.5%), in the
Competition mode, and that in the event of renewal the contract should be
submitted again to decision of the Board; and</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 20.0pt;text-autospace:none;text-indent:-20.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">c) </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>presentation
to Banco de Investimentos Credit Suisse First Boston S.A. of a binding bid for
the purchase by Cemig, in isolation or jointly with pension funds, of 100% of
the stockholdings which Schahin Engenharia Ltda. holds in the electricity transmission
concession holders of Package B.1, made up of 50% of the voting capital of
Empresa Amazonense de Transmiss&#227;o de Energia S.A., Empresa Paraense de
Transmiss&#227;o de Energia S.A., Empresa Norte de Transmiss&#227;o de Energia S.A., and
Empresa Regional de Transmiss&#227;o de Energia S.A., and 40% of the voting capital
of Empresa Catarinense de Transmiss&#227;o de Energia S.A., and Cemig, if declared
winner in the process of sale, is authorized to constitute a Special-Purpose
Company in the form of a company limited by shares, to sign the contract for
purchase and sale of shares with the vendors, and which shall assume the
obligation of Schahin to repurchase the preferred shares held by Eletrobr&#225;s in
EATE and ETEP, and shall also assume the obligations and conditions existing in
the present stockholders&#146; agreements with the other partners of Schahin in the
companies; and also that it should sign the agreement between Cemig and Banco
Modal S.A., the purpose of which is to establish criteria for a possible
partnership of Cemig and the pension funds indicated by Banco Modal S.A. in
relation to the part applicable to Cemig in the registered capital of the
Special-Purpose Company which will be created if Cemig is declared winner in
the process of sale of the stockholdings of the Schahin Group in the
above-mentioned companies.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.25pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">III - The
Board submitted </font></b>to the General Meeting of Stockholders a
proposal relating to authorization for opening of administrative tender
proceedings, and also for contracting, directly with the insurance company, of
civil liability insurance for members of the Board of Directors, Directors and
Managers (D&amp;O), for secondary cover for non-intentional acts of executives,
according to conditions established by IRB Brasil Re, with a limit of cover of
US$10 million, the cost of which will be distributed between the companies
Cemig, Cemig D and Cemig GT, for the period of 12 months, extendable for up to
48 months, with a maximum limit of 60 months.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.25pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">IV - The
Chairman called the members of this Board of Directors to a meeting</font></b>
to be held on November 10 of the present year.</p>

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">V - The Chairman stated </font></b>that the
Board of Directors of Infovias will be deciding on a proposal of the Executive
Board of that company on the disposal, through an auction on a securities
exchange, of the totality of the stockholding participation in Way TV Belo
Horizonte S.A., subject to the applicable legislation.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.05pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VI - The
Chairman;</font></b> the <b>Board members</b>
Andr&#233;a Paula Fernandes Pansa, Ant&#244;nio Luiz Barros de Salles, Carlos Augusto
Leite Brand&#227;o, Haroldo Guimar&#227;es Brasil, Jos&#233; Augusto Pimentel Pess&#244;a,
Alexandre Heringer Lisboa and Maria Estela Kubitschek Lopes; the <b>Directors</b> Fl&#225;vio Decat de Moura and Heleni de Mello Fonseca;
the <b>Assistant</b> Jo&#227;o Batista Zolini Carneiro;
the <b>Executive Co-ordinator of the Union Negotiating
Committee</b> Augusto Diniz Gomes; and a representative of <b>Banco Modal</b> S.A. made comments on general subjects and
matters of interest to the Company.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.05pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">The
following were present:</font></b>  <b>Board Members</b>
Djalma Bastos de Morais, A&#233;cio Ferreira da Cunha, Andr&#233;a Paula Fernandes Pansa,
Alexandre Heringer Lisboa, Ant&#244;nio Adriano Silva, Ant&#244;nio Luiz Barros de
Salles, Carlos Augusto Leite Brand&#227;o, Francelino Pereira dos Santos, Haroldo
Guimar&#227;es Brasil, Jos&#233; Augusto Pimentel Pess&#244;a, Maria Estela Kubitschek Lopes,
Nilo Barroso Neto and Fernando Lage de Melo; <b>Audit Board
Member</b> Itamaury Teles de Oliveira; <b>Directors</b>
Fl&#225;vio Decat de Moura and Heleni de Mello Fonseca; Jo&#227;o Batista Zolini
Carneiro, <b>Assistant;</b> S&#233;rgio Augusto Diniz Gomes, <b>Executive Co-ordinator of the Union Negotiation Committee;</b> a
representative of <b>Banco Modal S.A.;</b>
and Anamaria Pugedo Frade Barros, Secretary.</p>

<p style="margin:.5pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Anamaria
Pugedo Frade Barros</font></p>

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">COMPANHIA
ENERG&#201;TICA DE MINAS GERAIS &#150; CEMIG<br>
</font></b>Listed Company &#150; CNPJ 17.155.730/0001-64 &#150; NIRE 31300040127</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:12.0pt 0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Summary Minutes of the 370</font></b><b><font size="1" face="Times New Roman" style="font-size:6.5pt;font-weight:bold;position:relative;top:-3.0pt;">th</font>&#160;meeting of the
Board of Directors.</b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.15pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Date,
time and place:</font></b> Begun on January 4, 2006 at 2:30 p.m., and
resumed on January 5, 2006 at 2:30 p.m. at the company&#146;s head office, Av.
Barbacena 1200, 18<font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&#160;Floor, Belo Horizonte, Minas Gerais, Brazil.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:6.25pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Meeting Committee:</font></b> Chairman,
Wilson N&#233;lio Brumer; Secretary, Anamaria Pugedo Frade Barros.</p>

<p style="margin:.55pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Summary
of events:</font></b></p>

<p style="margin:.45pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">I &#150; The
Board approved the Minutes of this meeting.</font></b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">II &#150; The
Board authorized</font></b> the Company to present a new binding proposal
for the purchase of up to 100% of the stockholdings held by Schahin Engenharia
Ltda. in the following electricity transmission concession holders: Empresa
Amazonense de Transmiss&#227;o de Energia S.A. - EATE, Empresa Paraense de
Transmiss&#227;o de Energia S.A. - ETEP, Empresa Catarinense de Transmiss&#227;o de
Energia S.A. - ECTE, Empresa Norte de Transmiss&#227;o de Energia S.A. - ENTE and
Empresa Regional de Transmiss&#227;o de Energia S.A. - ERTE., maintaining the other
conditions already approved previously by this Board of Directors.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.05pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">III &#150; </font></b>The<b> Vice-Chairman;</b> the <b>Directors</b>
Andr&#233;a Paula Fernandes Pansa, Carlos Augusto Leite Brand&#227;o, Haroldo Guimar&#227;es
Brasil, Jos&#233; Augusto Pimentel Pess&#244;a and Andr&#233;a Leandro Silva; the Director
Fl&#225;vio Decat de Moura; and a representative of <b>Banco Modal
S.A.</b> made comments on general subjects and matters of interest to
the company.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">The
following were present: Board Members</font></b> Wilson N&#233;lio Brumer,
Djalma Bastos de Morais, A&#233;cio Ferreira da Cunha, Andr&#233;a Paula Fernandes Pansa,
Alexandre Heringer Lisboa, Ant&#244;nio Adriano Silva, Carlos Augusto Leite Brand&#227;o,
Francelino Pereira dos Santos, Haroldo Guimar&#227;es Brasil, Jos&#233; Augusto Pimentel
Pess&#244;a, Nilo Barroso Neto, Andr&#233;a Leandro Silva and Luiz Henrique de Castro
Carvalho; Fl&#225;vio Decat de Moura, Director; a representative of <b>Banco Modal S.A.;</b> and Anamaria Pugedo Frade Barros,
Secretary.</p>

<p style="margin:.5pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Anamaria
Pugedo Frade Barros</font></p>

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">COMPANHIA ENERG&#201;TICA DE MINAS GERAIS &#150; CEMIG<br>
</font></b><font color="black" style="color:black;">Listed Company</font><font color="black" face="Times New Roman" style="color:black;"> &#150; </font><font color="black" style="color:black;">CNPJ 17.155.730/0001-64 &#150; NIRE
31300040127</font></p>

<p style="font-size:10.0pt;margin:4.4pt 0pt .0001pt;text-autospace:none;"><b><u><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">Summary Minutes of
the 383</font></u></b><b><u><font size="1" color="black" face="Times New Roman" style="color:black;font-size:6.5pt;font-weight:bold;position:relative;top:-3.0pt;">rd</font></u></b><b><u><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">&#160;meeting of the
Board of Directors.</font></u></b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:9.7pt 0pt .0001pt;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">Date, time and place:</font></b><font color="black" style="color:black;"> Begun on May 3, 2006 at 10:30 a.m. and
resumed on May 4, 2006, at 6:00 p.m., at the Company&#146;s head office, Av.
Barbacena 1200, 18</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font><font color="black" style="color:black;">&#160;Floor, Belo Horizonte, Minas Gerais, Brazil. </font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:9.85pt 0pt .0001pt;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">Meeting committee:</font></b><font color="black" style="color:black;"> Chairman, Wilson N&#233;lio Brumer;
Secretary, Anamaria Pugedo Frade Barros. </font></p>

<p style="margin:.15pt 0pt .0001pt;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="margin:.15pt 0pt .0001pt;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">Summary of events: </font></b></p>

<p style="margin:.15pt 0pt .0001pt;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="margin:.15pt 0pt .0001pt;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">I &#150; The Board
approved: </font></b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:12.0pt 0pt 12.0pt 20.0pt;text-autospace:none;text-indent:-20.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">a)</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">a proposal by Board Member Francelino
Pereira dos Santos for the election </font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">for a period of three years</font></b><font color="black" style="color:black;">, that is to say up to the Annual General
Meeting to be held in 2009, of the following: as </font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">Chairman of the Board of Directors</font></b><font color="black" style="color:black;"> the Board Member </font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">Wilson N&#233;lio Brumer</font></b><font color="black" style="color:black;"> - Brazilian, married, company manager,
resident and domiciled in Nova Lima, Minas Gerais, at Alameda da Serra
1268/200, Bairro Vale do Sereno, CEP 34000-000, holder of identity card (RG)
M-494249/SSPMG and CPF 049142366-72; and as </font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">Vice-Chairman of the Board of
Directors</font></b><font color="black" style="color:black;"> the
Board Member </font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">Djalma Bastos de Morais</font></b><font color="black" style="color:black;"> - Brazilian, married, engineer, resident
and domiciled in Belo Horizonte, Minas Gerais, at Av. Bandeirantes 665/401,
Bairro Sion, CEP 30315-000, holder of RG 019112140-9 issued by the Army
Ministry and CPF 006633526-49; </font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 20.0pt;text-autospace:none;text-indent:-20.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">b)</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">a proposal by Board Member Francelino Pereira dos Santos
that the following should be elected as </font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">members of the Executive Board</font></b><font color="black" style="color:black;">, with periods of office of three years,
that is to say up to the first meeting of the Board of Directors following the
Annual General Meeting of 2009: as </font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">CEO</font></b><font color="black" style="color:black;"> </font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">and Vice-Chairman, Djalma Bastos
de Morais,</font></b><font color="black" style="color:black;">
described above; as </font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">Chief Planning, Projects and Construction Officer,
Celso Ferreira</font></b><font color="black" style="color:black;"> -
Brazilian, married, engineer, resident and domiciled in Belo Horizonte, MG at
Rua Sergipe 1274/402, Bairro Funcion&#225;rios, CEP 30130-171, RG 02111011</font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">-</font></b><font color="black" style="color:black;">9/IFPRJ, CPF 011553507</font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">-</font></b><font color="black" style="color:black;">15; as </font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">Chief Generation and Transmission
Officer, Elmar de Oliveira Santana</font></b><font color="black" style="color:black;"> - Brazilian, married, engineer, resident and domiciled in
Belo Horizonte, Minas Gerais at Rua F&#225;bio Couri 310/701, Bairro Luxemburgo, CEP
30380-160, RG M-2159288/SSPMG, CPF 089501306-10; as </font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">Chief Financial and Investor Relations Officer,
Fl&#225;vio Decat de Moura</font></b><font color="black" style="color:black;"> - Brazilian, married, engineer, resident and domiciled in
Belo Horizonte, Minas Gerais at Rua Bar&#227;o de Lucena 98, Bairro Serra, CEP
30240-250, RG MG14977954/SSPMG, CPF 060681116-87; as </font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">Chief Corporate Management Officer, Heleni de
Mello Fonseca</font></b><font color="black" style="color:black;"> -
Brazilian, divorced, engineer, resident and domiciled in Belo Horizonte, Minas
Gerais at Rua S&#227;o Paulo 2386/101, Bairro Lourdes, CEP 30170-132, RG
18044-D/CREAMG, CPF 275196196</font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">-</font></b><font color="black" style="color:black;">72; and as </font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">Chief Distribution and Sales
Officer, Jos&#233; Maria de Macedo</font></b><font color="black" style="color:black;"> &#150; Brazilian, </font></p>

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt 20.0pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">married, engineer, resident and domiciled in Belo
Horizonte, Minas Gerais at Rua Joaquim Lustosa 53/801, Bairro Anchieta, CEP
30310-410, RG M45413/SSPMG, CPF 002033351-04; and </font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 20.0pt;text-autospace:none;text-indent:-20.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">c)</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">the Minutes of this meeting. </font></p>

<p style="margin:9.95pt 0pt .0001pt;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">II
&#150; The Board authorized the Company: </font></b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:12.0pt 0pt 12.0pt 15.0pt;text-autospace:none;text-indent:-15.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">1 - </font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160; </font><font color="black" style="color:black;">to sign with Companhia T&#233;cnica de Energia El&#233;trica - Alusa,
Schahin Holding S.A., Schahin Engenharia Ltda., Schahin Energia S.A., MDU
Brasil Ltda. and Brascan Brasil Ltda., five Undertakings under which Alusa will
expressly and irrevocably waive its rights of preference for acquisition of
shares and joint sale in relation to any disposal of shares by the vendor
and/or Schahin Energia S.A. and/or Schahin Engenharia Ltda. to Cemig and/or by
the other purchasers; </font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:12.0pt 0pt 12.0pt 15.0pt;text-autospace:none;text-indent:-15.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">2 -</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">to sign with Schahin Holding S.A. (Vendor), Schahin
Engenharia Ltda. and Schahin Energia S.A. (Guarantors), MDU Brasil Ltda. and
Brascan Brasil Ltda. five share purchase contracts for acquisition of up to
100% of the stockholdings which Schahin Holding S.A. holds in the electricity
transmission concession holders Empresa Amazonense de Transmiss&#227;o de Energia
S.A. - EATE; Empresa Paraense de Transmiss&#227;o de Energia S.A. - ETEP; Empresa
Catarinense de Transmiss&#227;o de Energia S.A. - ECTE; Empresa Norte de Transmiss&#227;o
de Energia S.A. - ENTE and Empresa Regional de Transmiss&#227;o de Energia S.A. -
ERTE; </font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:12.0pt 0pt 12.0pt 15.0pt;text-autospace:none;text-indent:-15.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">3 -</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">to provide a guarantee of fulfillment of all and any
obligations of a strictly pecuniary nature relating to the payment of the
purchase price by MDU Brasil Ltda. or, as the case may be, by Brascan Brasil
Ltda., in the event that the said Brascan Brasil Ltda. exercises the right of
option to purchase, since, under the share purchase contracts Schahin will
grant to Brascan Brasil Ltda. the irrevocable right of option to purchase a
percentage of the shares issued by the Transmission Companies. If MDU and
Brascan do not fulfill the pecuniary obligations stipulated in the purchase and
sale contracts, Cemig will acquire and will pay for the totality of the shares.
If MDU and Brascan make the payment of the purchase price at the closing, the
shares being transferred to them, and subsequently do not make the payment of
any price that may be due, Cemig shall be responsible for the payment of the
adjustment, and MDU and/or Brascan shall irrevocably be obliged to transfer a
percentage of the shares transferred to them by the vendor at the closing in a
percentage equivalent to the amount of the payment made by Cemig. In guarantee
of faithful and full compliance with all the obligations assumed by MDU and
Brascan, these latter shall give to Cemig a charge on all the shares which they
acquire from Schahin at the closing, by registry, on the closing date, in the
Nominal Share Registry of the transmission companies, and this charge shall
cease to have effect when the purchase price has been fully and completely paid
by MDU and Brascan or in the event of default of MDU and/or Brascan, at the
time of transfer of the shares to Cemig; </font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:12.0pt 0pt 12.0pt 15.0pt;text-autospace:none;text-indent:-15.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">4 -</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">to authorize the assignment by Schahin of the credit rights
referred to in the contracts for purchase and sale of shares to third parties; </font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:12.0pt 0pt 12.0pt 15.0pt;text-autospace:none;text-indent:-15.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">5 -</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">to sign with Alusa and MDU Brasil Ltda. a document under
which the parties undertake that at the latest by the business day immediately
preceding the date of </font></p>

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt 15.0pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">closing of the transaction, they will sign stockholders&#146;
agreements to establish the rights and obligations of each party in relation to
each one of the transmission companies, which may be adjusted as a result of
the exercise by Brascan Brasil Ltda. of the option to purchase shares; and
Alusa undertakes that on the closing dates specified in the contracts for
purchase and sale of the shares of the transmission companies, it undertakes to
acquire the export credits held by the company listed in Appendix VI of PRCA
026/2006, and to settle the amount of any credit held by the company in
relation to Alusa; and </font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:12.0pt 0pt 12.0pt 15.0pt;text-autospace:none;text-indent:-15.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">6 -</font><font size="1" color="black" style="color:black;font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" style="color:black;">jointly with Alusa, in the proportion of 95% and 5%,
respectively, to grant to Brascan an option to sell the shares which Brascan
may come to hold in the transmission companies. In consideration, Brascan shall
grant to Cemig and to Alusa, in the proportion previously specified,
respectively, a purchase option in relation to the shares which Brascan may
hold in the transmission companies. </font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:9.7pt 0pt .0001pt;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">III
&#150; The Board Members</font></b><font color="black" style="color:black;">
Andr&#233;a Paula Fernandes Pansa, Carlos Augusto Leite Brand&#227;o, Evandro Veiga
Negr&#227;o de Lima, Haroldo Guimar&#227;es Brasil and Jos&#233; Augusto Pimentel Pess&#244;a,
reiterating the </font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">protest</font></b><font color="black" style="color:black;"> made at the beginning of this meeting, </font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">voted against</font></b><font color="black" style="color:black;"> the proposal of Board Member Francelino Pereira dos Santos
in relation to the election of the members of the Executive Board mentioned in
item I, sub-clause &#147;b&#148;, above. </font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:9.85pt 0pt .0001pt;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">IV &#150; The Chairman and
the Vice-Chairman</font></b><font color="black" style="color:black;">
of the Board declared that they are not subject to any prohibition on the
exercise of commercial activity, that they do not occupy any position in a
company which can be considered a competitor of Cemig, not having nor
representing interest conflicting with Cemig, and assumed a solemn undertaking
to obey the principles of the Code of Ethics of the State of Minas Gerais. </font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:9.8pt 0pt .0001pt;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">V &#150; The Directors
appointed declared</font></b><font color="black" style="color:black;">
- - in advance - that they are not subject to any prohibition on the exercise of
commercial activity, that they do not occupy any position in a company which
could be considered a competitor of Cemig, not having nor representing any
interest conflicting with Cemig, and assumed a solemn undertaking to obey the
principles of the Code of Ethics of the State of Minas Gerais. </font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:9.75pt 0pt .0001pt;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">VI &#150;</font></b><font color="black" style="color:black;"> The </font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">Vice-Chairman</font></b><font color="black" style="color:black;">; the </font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">Board Members</font></b><font color="black" style="color:black;"> Andr&#233;a Paula Fernandes Pansa, Carlos
Augusto Leite Brand&#227;o, Evandro Veiga Negr&#227;o de Lima, Haroldo Guimar&#227;es Brasil
and Jos&#233; Augusto Pimentel Pess&#244;a; and the </font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">Director</font></b><font color="black" style="color:black;"> Fl&#225;vio Decat de Moura made comments on
general subjects and matters of interest to the Company. </font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:9.75pt 0pt .0001pt;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">The following were
present: Board Members</font></b><font color="black" style="color:black;"> Wilson N&#233;lio Brumer, Djalma Bastos de Morais, A&#233;cio
Ferreira da Cunha, Andr&#233;a Paula Fernandes Pansa, Alexandre Heringer Lisboa,
Carlos Augusto Leite Brand&#227;o, Evandro Veiga Negr&#227;o de Lima, Francelino Pereira
dos Santos, Haroldo Guimar&#227;es Brasil, Jos&#233; Augusto Pimentel Pess&#244;a, Nilo
Barroso Neto, Wilton de Medeiros Daher, Lauro S&#233;rgio Vasconcelos David, Luiz
Henrique de Castro Carvalho and Fernando Lage de Melo; Fl&#225;vio Decat de Moura, </font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">Director</font></b><font color="black" style="color:black;">; and Anamaria Pugedo Frade Barros, </font><b><font color="black" face="Times New Roman" style="color:black;font-weight:bold;">Secretary</font></b><font color="black" style="color:black;">. </font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Anamaria Pugedo Frade Barros </font></p>

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Summary
Information on the<br>
<b>Public Distribution of Commercial Paper Securities<br>
</b>of the First Issue<br>
by</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman"><img width="199" height="82" src="g174031bc05i001.jpg"></font></p>

<p align="center" style="margin:1.95pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CEMIG
DISTRIBUI&#199;&#194;O S.A.</font></b></p>

<p align="center" style="margin:1.95pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CNPJ n.&#186;
06.981.180/0001-16</font></p>

<p align="center" style="font-family:Times New Roman;font-size:10.0pt;margin:.85pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Av. Barbacena,
1200, 17</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>.
floor, A1 Wing, Bairro Santo Agostinho <br>
<font style="letter-spacing:-.05pt;">Belo Horizonte , Minas Gerais, Brazil</font></p>

<p align="center" style="margin:6.1pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ISIN: BRCMGDNPM001</font></p>

<p align="center" style="margin:9.0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Lead
Manager:</font></i></b></p>

<p align="center" style="margin:9.0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman"><img width="215" height="35" src="g174031bc05i002.jpg"></font></p>

<p align="center" style="margin:6.45pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In the amount of</font></p>

<p align="center" style="margin:15.45pt 0pt 12.0pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">R$
300,000,000.00</font></b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:2.95pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1. I</font></b><b>NFORMATION ABOUT THE OFFERING</b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:9.05pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.1.</font></b><b><font style="font-weight:bold;"> </font>Corporate decisions</b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:15.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The First Issue of Commercial Promissory Notes (&#147;the
Offering&#148;, &#147;the Issue&#148;, and &#147;the Securities&#148;) was approved by the Board of
Directors of Cemig Distribui&#231;&#227;o</font> S.A. (&#147;Cemig Distribui&#231;&#227;o&#148;, the &#147;Issuer&#148; or &#147;the Company&#148;) at a
meeting held on June 29, 2006.</p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.2.
Total amount of the Issue</font></b></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The total amount of the issue is R$ 300,000,000.00
(three hundred million Reais).</font></p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.3. Series</font></b></p>

<p style="margin:11.05pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Securities will be issued in a single series.</font></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.4. Quantity of Securities</font></b></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
issue is made up of 90 (ninety) Commercial Paper Securities (Promissory Notes).</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.5.
Nominal unit value</font></b></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The par value (&#147;the Nominal Unit Value&#148;) of the
Securities is R$ 10,000,000.00 (ten million Reais).</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.6. Form</font></b></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Security shall be nominal, and issued in physical form, and shall be held on
deposit with an institution qualified to provide the services of custody. The
Securities shall be nominal and shall be transferred by nominal endorsement,
resulting in simple transfer of ownership.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.7. Date
of Issue</font></b></p>

<p style="margin:16.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For all intents and purposes, the Date of Issue of the
securities shall be the date of their actual subscription and paying-up (&#147;the
Issue Date&#148;).</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.8.
Subscription Price</font></b></p>

<p style="margin:15.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The securities shall be subscribed for Nominal Unit
Value, in Brazilian currency, at sight, simultaneously with subscription (&#147;the
Subscription Price&#148;).</font></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.9. Procedure for subscription and paying-up</font></b></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Securities must be subscribed and paid-up within 8 (eight) business days from
the date of publication of the Announcement of Commencement of Distribution of
Commercial Paper Securities (&#147;the Commencement Announcement&#148;), subject to the
provisions of item 1.14 below. The placement of the Securities shall be carried
out in accordance with the procedures of the Brazilian Promissory Notes System
(&#147;NOTA&#148;), operated by the CETIP.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.10.
Remuneration</font></b></p>

<p style="margin:.55pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Remuneration
interest shall be due, at the rate of 103% (one hundred and three per cent) of
the average daily rate for interbank deposits known as the &#147;<i>DI over extra-grupo Rate</i>&#148;, on the Nominal Unit Value,
expressed in the form of an annual rate in per cent, on the 252
(two-hundred-and-fifty-two)-business-day, calculated and published daily by the
CETIP (Custody and Settlement Chamber) in its daily bulletin available on its
Internet page (http://www.cetip.com.br) (&#147;The DI Rate&#148; and &#147;the Remuneration&#148;).
The Remuneration shall be calculated exponentially and cumulatively <i>pro rata tempore</i> per business day,</font></p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">applicable to the Nominal Unit Value from the date of
the actual subscription and paying-up (&#147;Issue Date&#148;) of the Securities up to
the Maturity Date, in accordance with the following formula:</font></p>

<p align="center" style="margin:1.35pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J = VNe x (<i>InterestFactor</i> - 1),</font></p>

<p style="margin:4.75pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Where:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:13.95pt 0pt .0001pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J = </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>unit value
of the remuneration interest, calculated to 6 (six) decimal places, without rounding,
payable at the end of the Capitalization Period.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 50.0pt;page-break-after:avoid;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">VNe =</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font>the Nominal Value of the issue,
published/calculated to 6 (six) decimal places, without rounding.</p>

<p style="margin:0pt 0pt 12.0pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">InterestFactor = product
of the DI Rates, summed exponentially with a percentage factor, from the start
date of the Capitalization Period, inclusive, up to the date of termination of Capitalization
Period exclusive, calculated to 8 (eight) decimal places, without rounding, as
found by the following formula:</font></p>

<p align="center" style="margin:.5pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="position:relative;top:-2.5pt;"><img width="214" height="47" src="g174031bc05i003.jpg"></font></p>

<p style="margin:7.65pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Where:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">n =</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the total
number of days of the DI Rate used in the updating of the asset, where &#147;n&#148; is a
whole number.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">P =</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>103%
(percentage applied to the DI Rate).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TDIk =</font><font size="1" style="font-size:3.0pt;">&#160;&#160; </font>the DI Rate, expressed by day,
calculated to 8 (eight) decimal places, with rounding, as follows:</p>

<p align="center" style="margin:2.15pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman"><img width="146" height="52" src="g174031bc05i004.jpg"></font></p>

<p style="margin:2.15pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Where:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:13.95pt 0pt 12.0pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DIk =</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The DI Rate published
by CETIP, valid for 1 (one) business day (&#147;overnight&#148;), used to 2 (two) decimal
places.</p>

<p style="margin:13.95pt 0pt 12.0pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;Capitalization Period&#148;:
This is the time interval starting on the Issue Date, inclusive, and ending on
the date of payment of the Nominal Unit Value of the Security, exclusive, <font style="letter-spacing:-.1pt;">plus the Remuneration.</font></font></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If at
any time during the period of validity of the Securities the DI Rate is not
published, the last previous available DI Rate shall be applied, and in this
event no offsetting between the Issuer and the holders of the Securities shall
be payable when the DI Rate that would be applicable is subsequently published.</font></p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the DI Rate ceases to be published for a period of
more than 10 (ten) days, or if it is abolished or if there is a legal
impossibility of application of the DI Rate to the Securities, the legal
parameter which is established, if any, shall be used in substitution of it. If
there is not a substitute legal parameter for the DI Rate, then the weighted average
rate of remuneration of Brazilian short-term federal public securities with
maturity of 90 (ninety) days traded in the prior 30 (thirty) days, at the time
of the occurrence, shall be used.</font></p>

<p style="margin:8.55pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.11. Form of pricing</font></b></p>

<p style="margin:16.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Security shall be offered to investors with the
Remuneration mentioned in 1.10. above, without any price formation mechanisms.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.12.
Charges for arrears</font></b></p>

<p style="margin:2.4pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If
there is a failure of punctuality in the payment of any amount payable to the
holders of the Securities, the overdue units shall be subject to: (a) arrears
interest calculated from the day of default to the date of actual payment, at
the rate of 1% (one per cent) per month, on the amount owed, independently of
the price, or notification or action in or outside the Courts; and (b) a conventional
arrears penalty payment, irreducible and of a compensatory nature, of 2% (two
per cent) on the amount due and unpaid.</font></p>

<p style="margin:8.55pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.13. Period of Maturity</font></b></p>

<p style="margin:16.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The maturity period of the Promissory Notes shall be
90 (ninety) calendar days from the date of subscription (&#147;the Maturity Date&#148;).</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.14.
Placement regime and distribution procedure</font></b></p>

<p style="margin:.05pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Lead Manager shall carry out the distribution of the Securities on the Firm
Guarantee of Subscription basis.</font></p>

<p style="margin:2.55pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Securities shall be the object of a public
distribution, intermediated by financial institutions that are part of the
Securities Distribution System. The sharing criterion shall be proportional to
the volume of orders placed by investors. There shall be no prior reserves nor
setting of maximum or minimum lots. No contract for stabilization of the price
of the Securities shall be signed. No fund to sustain liquidity for the
Securities shall be constituted. No type of discount shall be granted by the
Lead Manager to investors interested in requiring the Securities.</font></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The placement
of Securities shall begin, in accordance with Article 3 of CVM Instruction 429
of March 22, 2006, only 5 (five) business days after: (i) filing of the
application with the CVM; (ii) publication of the Commencement Announcement of
the Offering; and (iii) availability of this document (&#147;Automatic Registry&#148;).
The placement of the Security shall be carried out in accordance with the
procedures of the Promissory Note System (&#147;NOTA&#148;), operated by the CETIP.</font></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the
CVM does not grant Automatic Registry, the terms and conditions of this present
Issue shall remain in force, but the period of 5 (five) days referred to in
item 4.2 shall be replaced by the periods referred to</font></p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">by CVM Instruction 134, and the term &#147;Automatic
Registry&#148; shall be replaced by &#147;Registry&#148;, which shall have the following
meaning: &#147;concession of registry of the issue by the CVM&#148;.</font></p>

<p style="margin:14.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subject to compliance with the applicable regulations,
the Lead Manager shall carry out the public distribution of the Promissory
Notes, in such a way as to ensure: (i) that the treatment given to investors is
fair and equitable; and (ii) the investment is adapted to the risk profile of
its clients.</font></p>

<p style="margin:.05pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In
accordance with the option provided for in Article 1 of CVM Instruction 155 of
August 7, 1991, for the purposes of this Issue no prospectus nor any
advertising material intended for public disclosure shall be used, other than
the Commencement Announcement, the Closing Announcement of Distribution and the
summaries of this information on the Issue as specified in Appendix One of CVM
Instruction 155.</font></p>

<p style="margin:8.55pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.15. Target public</font></b></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Offering shall be destined solely and exclusively to qualified investors, as
defined by Article 109, sub-item (i) of CVM Instruction 409 of 18 August 18,
2004 (&#147;Qualified Investors&#148;).</font></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Any
other investors who are not Qualified Investors should be fully aware that the
present offering is not appropriate, since it is destined exclusively for
Qualified Investors who have sufficient specialization and knowledge to take an
independent investment decision on the proper grounds.</font></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.16. Guarantee</font></b></p>

<p style="margin:2.55pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Securities are guaranteed by a guarantee given by
Companhia Energ&#233;tica de Minas Gerais - Cemig (&#147;Cemig&#148;, or &#147;the Guarantor&#148;).</font></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Lead Manager warrants that the guarantee by CEMIG was duly constituted by
signature of its legal representatives on the reverse side of the physical
issued form of each of the Securities, guaranteeing the totality of the debt
represented by them, and the guarantee in question was duly approved by a
meeting of the Board of Directors of CEMIG held on June 29, 2006, and is, thus,
fully enforceable against CEMIG.</font></p>

<p style="margin:8.55pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.17. Early redemption</font></b></p>

<p style="margin:2.5pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Company may effect early redemption of the Securities, at its exclusive option,
provided that the holders thereof are in agreement, in accordance with the applicable
legislation. In the event of partial early redemption, this shall take place by
lottery, in accordance with Paragraph one of Article 55 of Law 6404 of December
17, 1976.</font></p>

<p style="margin:8.55pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.18. Early redemption events</font></b></p>

<p style="margin:2.4pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
holders of the Securities may declare automatic early maturity of all the
obligations arising from the Securities that they hold and demand immediate
payment by the issuer of the Nominal Unit Value of the Securities plus the
Remuneration and charges calculated <i>pro rata tempore</i>,
from the Issue Date, by letter</font></p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">formally delivered or with advice of receipt addressed
to the head office of the Issuer, in any of the following events:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 30.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>decree
of bankruptcy of the Issuer and/or the Guarantor; or dissolution and/or
liquidation of the Issuer and/or Guarantor; or application for judicial or
out-of-Court recovery or bankruptcy formulated by the Issuer and/or Guarantor;
or further, any analogous event which may characterize a state of insolvency,
including agreement with creditors, in accordance with the applicable
legislation;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 30.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii) </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>legitimate
and reiterated protest of securities against the Issuer with individual or
aggregate value unpaid exceeding R$ 50,000,000.00 (fifty million Reais), unless
the protest shall have been filed in error of due to bad faith of third
parties, and provided this is validly proven by the Issuer, or if it is
canceled or, further, validly contested in the Courts, in any event, within a maximum
period of 30 (thirty days) calendar days from the date of maturity of the
obligations;&#160; </p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 30.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>early
maturity of any pecuniary obligation of the Issuer and/or the Guarantor,
arising from default on an obligation to pay any individual or aggregate amount
in excess of <font style="letter-spacing:-.05pt;">R$ 50,000,000.00 (fifty
million Reais);</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 30.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv) </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>change,
transfer or direct or indirect assignment of the stockholding control of the
Issuer and/or Guarantor, other than by legal order, without the prior consent
of the holders;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 30.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v) </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>absorption
of the Issuer by another company, split or merger of the Issuer and/or of the Guarantor,
unless by legal orders;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 30.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi) </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>privatization
of the Issuer and/or Guarantor;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 30.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii) </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>termination, for
any reason whatsoever, of any of the concession contracts held by the Issuer and/
or Guarantor; or</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 30.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(viii)
</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>unjustified
default by the Issuer and/ or Guarantor, or absence of legal and/or Court
measures required for the non-payment of any debt or any obligation to pay,
under any agreement in which either or both are lender or guarantor, with
individual or aggregate amount exceeding R$ 50,000,000.00 (fifty million
Reais).</p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.19. Trading location</font></b></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Securities shall be traded in the over-the-counter market, through the NOTA
system.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.20.
Payment location</font></b></p>

<p style="margin:15.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The payments relating to the Securities shall be
carried out in accordance with the procedures of CETIP, for the Securities
registered on the NOTA, or, for the holders of the Securities who are not
linked to the third system, at the head office of the Issuer.</font></p>

<p style="margin:4.5pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.21.
Lead manager</font></b></p>

<p style="margin:15.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Lead Manager of the offering is BB Banco de
Investimento S.A., which may be contacted at the following address:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:8.95pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">BB Banco de Investimento S.A.</font></b><br>
Rua Senador Dantas, 105 - 36<font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&#160;Floor</p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">6</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rio de Janeiro - RJ</font></p>

<p style="margin:.05pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Att.:
Sra. Mar&#237;lia de Oliveira Carmo <br>
Telephone: (21) 3808-3556 <br>
Fax: (21) 3808-3239<br>
Email: marilia@bb.com.br/gemec@bb.com.br</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.22. Use
of proceeds</font></b></p>

<p style="margin:15.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The proceeds from the public distribution of the
Securities shall be used to strengthen the Company&#146;s cash position in relation
to debt becoming due since January 2006, and for payment of debt becoming due
during the rest of the year.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.23.
Mandated bank</font></b></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Banco do Brasil S.A. shall be the mandated bank.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.24.
Sharing procedure</font></b></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
sharing criterion shall be of proportionality to the volume of orders placed by
investors.</font></p>

<p style="margin:4.5pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.
OVERVIEW OF THE COMPANY</font></b></p>

<p style="margin:8.9pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.1.
Brief history</font></b></p>

<p style="margin:.55pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cemig
Distribuidora is an unlisted Brazilian corporation, a wholly owned subsidiary
of Companhia Energ&#233;tica de Minas Gerais - Cemig, constituted on September 8,
2004. It began operating on January 1, 2005, consequent upon the separation of
the activities of Companhia Energ&#233;tica de Minas Gerais - Cemig.</font></p>

<p style="margin:13.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The concession contract of Companhia Energ&#233;tica de
Minas Gerais - Cemig for electricity distribution, signed in 1997, required
that its operations be restructured by the separation of the activities of
generation, transmission and distribution into wholly owned subsidiaries (&#147;Unbundling&#148;).</font></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Additionally,
Provisional Measure 144, of December 11, 2003, which was subsequently converted
into Federal Law 10848 of March 15, 2004, governing restructuring of the model
of the Brazilian electricity sector, required the division - into separate
companies - of the activities of generation and transmission from the activity
of electricity distribution.</font></p>

<p style="margin:13.55pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Thus, seeking the best manner of carrying out the
stockholding restructuring of Companhia Energ&#233;tica de Minas Gerais - Cemig, the
Board of Directors approved the process of unbundling and, in August 2004, Law
15290/04 was sanctioned by the Governor of the State of Minas Gerais,
authorizing the stockholding restructuring.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">7</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On September 8, 2004 two wholly-owned subsidiaries of
Companhia Energ&#233;tica de Minas Gerais - Cemig were formed, namely Cemig Gera&#231;&#227;o
e Transmiss&#227;o S.A., and Cemig Distribui&#231;&#227;o S.A.</font></p>

<p style="margin:13.65pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The networks and distribution lines and other assets
and liabilities related to the activities of electricity distribution of
Companhia Energ&#233;tica de Minas Gerais - Cemig were transferred to Cemig
Distribui&#231;&#227;o, effective January 1, 2005.</font></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
National Electricity Agency (&#147;Aneel&#148;) gave its final homologation to the
transfer of the electricity distribution concession by Authorizing Resolution
407 of December 20, 2004.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.2.
Objects</font></b></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
objects of the company are to study, plan, draw up, operate, and commercially
operate, electricity distribution and sales systems and related services for
which concessions have been given or may come to be given, by any means of law.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.3. The
Company&#146;s activities</font></b></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
principal activity of the Issuer is the provision of public electricity
distribution service.</font></p>

<p style="margin:15.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The business involves the purchase and
sub-transmission of high-voltage energy (138kV and 88 kV), its transformation
into medium-voltage and low-voltage energy, and its distribution and sale to
final consumers in the State of Minas Gerais.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Issuer holds concessions for the distribution of electricity in an area which
covers approximately 96.7% of the State of Minas Gerais. The issuer carries out
activities of electricity distribution in 774 municipalities and 5,415
locations of the State of Minas Gerais, serving a population of approximately
17 million in accordance with the census of the year 2000.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:7.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">3. S</font></b><b>ELECTED FINANCIAL INFORMATION</b></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
table below gives the principal consolidated financial data of the Issuer.
These should be read in conjunction with its complete financial statements. The
Company&#146;s activities began only on January 1, 2005.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">8</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="right" style="margin:4.3pt 0pt .0001pt;text-align:right;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">R$ &#145;000</font></b></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="52%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:52.64%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="8%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">31/12/2004</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="8%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">31/12/2005</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="8%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">31/03/2005</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="8%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">31/03/2006</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.64%;">
  <p align="center" style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-align:center;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Assets</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.64%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Current assets</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,430,234</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,511,706</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,618,023</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.64%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Long term assets</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,623,260</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,007,211</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,555,971</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.64%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fixed assets</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,202,058</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,722,570</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,278,406</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.64%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total assets</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9,255,552</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8,241,487</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9,452,400</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.64%;">
  <p align="center" style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-align:center;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Liabilities</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.64%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Current
  liabilities</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,118,086</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,859,666</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,049,245</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.64%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Long term
  liabilities</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,825,962</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,434,689</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,947,215</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.64%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stockholders&#146;
  equity</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,311,504</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,947,132</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,455,940</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.64%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total
  liabilities</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9,255,552</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8,241,487</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9,452,400</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.64%;">
  <p align="center" style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-align:center;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Income statement</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.64%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net operational
  revenue</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,396,847</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,678,739</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,546,827</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.64%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cost of services
  provided*</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(5,131,350</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1,161,376</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1,290,108</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.64%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Gross profit</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,265,497</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">517,363</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">256,719</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.64%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operational profit</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,198,090</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">610,432</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">228,276</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.64%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Non-operational
  profit</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(30,716</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4,436</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(7,639</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.64%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net profit after income
  tax</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">990,129</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">404,530</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">144,436</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><hr size="1" width="160" noshade color="black" align="left" style="width:120.0pt;"></div>

<p style="margin:1.4pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">* &#147;Cost of services provided&#148;: The Issuer&#146;s
operations separate only &#147;cost of electricity&#148; and &#147;cost of operation&#148;, in
accordance with the Chart of Accounts of the electricity sector.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">3.1.
Independent Auditor</font></b></p>

<p style="margin:.05pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Issuer&#146;s financial statements for the business years ended December 31, 2004
and 2005, and the period ended March 31, 2006, were audited by Deloitte Touche
Tohmatsu. The quarterly information for March 31, 2005 was the subject of a
limited review by the said Independent Auditors, in accordance with the
determinations of the CVM in relation to the preparation of quarterly financial
statements (ITRs).</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:7.7pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4. I</font></b><b><font style="font-weight:bold;">NFORMATION ABOUT THE </font>G</b><b>UARANTOR</b></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Companhia
Energ&#233;tica de Minas Gerais - Cemig, constituted on May 22, 1952, is a
corporation with mixed private sector and public sector stockholdings, whose
purpose is to operate, and to operate commercially, electricity generation,
transmission, distribution and sales systems and related services; to carry out
activities in the various fields of energy, from any source, with a view to
economic and commercial operation; to provide consultancy services, within its
area of operation, to companies both inside and outside Brazil; and to carry
out activities directly or indirectly related to its objects.</font></p>

<p style="margin:.15pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">These
activities may be exercised directly by Companhia Energ&#233;tica de Minas Gerais -
Cemig, or, as intermediary, by companies constituted by it, or in which it any
time comes to hold a majority or minority stake, upon decision by the Board of
Directors, in accordance with State Laws 828 of 4 December 1951, 8655 of 18
September 18 1984, 15290 of 4 August 2004, and 16078 of 26 April 2006.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">9</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4.1. Registered capital</font></b></p>

<p style="margin:.3pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On May
31, 2006, the registered capital of Companhia Energ&#233;tica de Minas Gerais -
Cemig was R$ 1,621,538,000, in 70,874,167,923 common shares and 91,279,651,102
preferred shares, all being book-entry shares with Nominal Unit Value of R$
0.01.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This
table shows the distribution of the registered capital of Cemig on May 31,
2006.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="19%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:19.74%;">
  <p align="left" style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Stockholders</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Common</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">%</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Preferred</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">%</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:11.06%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Total</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">%</font></b></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:19.74%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">State of Minas
  Gerais</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">36,116,304,884</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">51</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">102</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:11.06%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">36,116,304,986</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">22</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.74%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Other entities of
  the State</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">9,351,410</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">1,906,289,993</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">2</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:11.06%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">1,915,641,403</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">1</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.74%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Southern Electric
  Brasil</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:11.06%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.74%;">
  <p style="margin:0pt 0pt .0001pt 24.0pt;page-break-after:avoid;text-indent:-8.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Participa&#231;&#245;es Ltda.</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">23,362,956,173</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">33</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:11.06%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">23,362,956,173</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">14</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.74%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Others -</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:11.06%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.74%;">
  <p style="margin:0pt 0pt .0001pt 16.0pt;page-break-after:avoid;text-indent:-8.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">In Brazil</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">7,246,506,670</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">10</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">27,378,656,643</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">29</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:11.06%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">34,625,163,313</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">21</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.74%;">
  <p style="margin:0pt 0pt .0001pt 16.0pt;page-break-after:avoid;text-indent:-8.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Outside Brazil</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">4,139,048,786</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">6</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">61,994,704,364</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">69</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:11.06%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">66,133,753,150</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">42</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.74%;">
  <p style="margin:0pt 0pt .0001pt 32.0pt;text-indent:-8.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Total</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">70,874,167,923</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">100</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">91,279,651,102</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">100</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;width:11.06%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">162,153,819,025</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">100</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:11.5pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4.2. Brief description of the principal
stockholders</font></b></p>

<p style="margin:15.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The principal stockholders of Companhia Energ&#233;tica de
Minas Gerais - Cemig are: the State of Minas Gerais; and Southern Electric
Brasil Participa&#231;&#245;es Ltda., a joint venture constituted in 1994. The voting
rights related to the shares held by them are the same.</font></p>

<p style="margin:2.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4.3.
Brief description of the subsidiaries</font></b></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CEMIG
has stockholdings in the following companies that were in operation on March
31, 2006:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.05pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cemig
Gera&#231;&#227;o e Transmiss&#227;o S.A.</font></u> (subsidiary, 100.00% stake) -
Generation and transmission of electricity, through 45 power plants, 42 being
hydroelectric, one a wind power plant and two thermal plants, and their
transmission lines, most of them belonging to the Brazilian national generation
and transmission grid system.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cemig
Distribui&#231;&#227;o S.A.</font></u> (subsidiary - 100.00% stake) - Distribution
of electricity through distribution networks and lines in approximately 97.00%
of the Brazilian State of Minas Gerais.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">S&#225;
Carvalho S.A.</font></u> (subsidiary - 100.00% stake) - Production and
sale of electricity, as a holder of a concession for public electricity
service, through the S&#225; Carvalho hydroelectric power plant.</p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">10</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<br clear="all" style="page-break-before:always;">
 <p style="margin:0pt 0pt .0001pt;text-align:center;"></p>


<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.3pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Usina
T&#233;rmica Ipatinga S.A.</font></u> (subsidiary - stake 100.00%) -
Production and sale, under the independent production regime, of thermally
produced electricity, through the Ipatinga thermal plant, located on the
premises of Usiminas (Usinas Sider&#250;rgicas de Minas Gerais S.A.).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Companhia
de G&#225;s de Minas Gerais - Gasmig</font></u> (&#147;Gasmig&#148;) (jointly
controlled - 55.19% stake) - Acquisition, transport and distribution of
combustible gas or sub-products and derivatives, through concession for distribution
of gas in the State of Minas Gerais, granted by the government of the State of
Minas Gerais.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:9.0pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Empresa de Infovias S.A.</font></u>
(&#147;Infovias&#148;) (subsidiary &#151; 99.94% stake) &#151; Provision and commercial exploration
of a specialized service in the area of telecommunications, by means of an
integrated system consisting of fiber optic cables, coaxial cables, electronic
and associated equipment (multi-service network). Infovias has a 69.25% stake
in Way TV Belo Horizonte S.A., which operates commercial cable TV and Internet
services in certain cities of Minas Gerais.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Efficientia
S.A.</font></u> (subsidiary - 100.00% stake) - Provides electricity
efficiency and optimization services and energy solutions through studies and
execution of projects, as well as providing services of operation and
maintenance in energy supply facilities.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Horizontes
Energia S.A.</font></u> (subsidiary - 100.00% stake) - Production and
sale of electricity, in the independent product mode, through the Machado
Mineiro and Salto do Paraopeba hydroelectric power plants, in the State of
Minas Gerais, and Salto do Volt&#227;o and Salto do Passo Velho, in the State of
Santa Catarina;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Central
Termel&#233;trica de Cogera&#231;&#227;o S.A.</font></u> (subsidiary - 100.00% stake) -
Production and sale of thermally generated electricity, as an independent
producer, through the construction and operation of the thermal power plant
known as the Barreiro Thermal Power Plant, located on the premises of Vallourec
&amp; Mannesmann Tubes, in the State of Minas Gerais. The concession was
transferred to UTE Barreiro S.A. in the first quarter of 2006.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rosal
Energia S.A.</font></u> (subsidiary - 100.00% stake) - Production and
sale of electricity, as a public electricity service concession holder, through
the Rosal hydroelectric power plant located on the border between the States of
Rio de Janeiro and Esp&#237;rito Santo, Brazil.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Central
Hidrel&#233;trica Pai Joaquim S.A.</font></u> (subsidiary - 100.00% stake) -
Production and sale of electricity as an independent producer. The concession
was transferred to Cemig PCH S.A. in the first quarter of 2006.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Companhia
Transleste de Transmiss&#227;o</font></u> (jointly controlled - 25.00% stake)
- - Operation of a 345 kV transmission line connecting the substation located in
Montes Claros to the substation of the Irap&#233; hydroelectric power plant.</p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">11</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<br clear="all" style="page-break-before:always;">
 <p style="margin:0pt 0pt .0001pt;text-align:center;"></p>


<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.05pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cemig
PCH S.A.</font></u> (subsidiary - 100.00% stake) - Production and sale
of electricity under the Independent Power Producer Regime, through the Pai
Joaquim hydroelectric power plant;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cemig
Capim Branco Energia S.A.</font></u> (subsidiary - stake 100.00%) -
Production and sale of electricity under the Independent Power Producer Regime,
through the Capim Branco hydroelectric power plant, built through a consortium
with private sector partners;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">UTE
Barreiro S.A.</font></u> (subsidiary - stake 100.00%) - Production and
sale of thermo-electric energy, under the Independent Power Producer Regime,
through construction and commercial operation of the thermoelectric power plant
named UTE Barreiro, located in the premises of Vallourec &amp; Mannesmann
Tubes, in the State of Minas Gerais;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:16.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Cemig</font></b> also has stockholdings in
the companies listed below, which were in the pre-operational phase on March
31, 2006:</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:16.0pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cemig Trading S.A.</font></u> (subsidiary -
100.00% stake) - Sale and intermediation of business transactions related to
energy;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Companhia
de Transmiss&#227;o Centroeste de Minas</font></u> (jointly controlled - 51.00%
stake) - Construction, implementation, operation and maintenance of the
electricity transmission facilities of the basic network of the national grid -
the 345 kV Furnas-Pimenta transmission line.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:9.0pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Companhia Transudeste de
Transmiss&#227;o</font></u> (jointly controlled &#150; 24.00% stake) &#150;
Construction, implementation, operation and maintenance of the electricity
transmission facilities of the national grid - the 345 kV Itutinga-Juiz de Fora
transmission line.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:8.95pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Companhia Transirap&#233; de
Transmiss&#227;o</font></u> (jointly controlled &#150; 24.50% stake) &#150;
Construction, implementation, operation and maintenance of the electricity
transmission facilities of the national grid - the 230 kV Irap&#233;-Ara&#231;ua&#237;
transmission line.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:9.0pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Transchile Charr&#250;a
Transmisi&#243;n S.A.</font></u> &#150; (&#147;Transchile&#148;) (jointly controlled &#150; 49.00%
stake) &#150; Implementation, operation and maintenance of the Charr&#250;a-Nueva Temuco
220 kV transmission line and two sections of transmission line at the Charr&#250;a
and Nueva Temuco substations, in the central region of Chile.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.05pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rio
Minas Energia Participa&#231;&#245;es S.A</font></u> (jointly controlled - stake
25.00%) - This company was constituted in partnership with Andrade Gutierrez
Concess&#245;es S.A., J.L.A. Participa&#231;&#245;es S.A. and Pactual Energia Participa&#231;&#245;es
S.A. initially for the purpose of evaluation of the acquisition of the stake in
LIGHT S.A. The contract for purchase and sale to complete this transaction was
signed on March 28, 2006.</p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">5. R</font></b><b>ISK FACTORS</b></p>

<p style="margin:15.95pt 0pt 12.0pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Before taking an investment decision in relation to
the Securities, potential investors should carefully consider, in the light of
their own financial situations and investment objectives, all the information
available in this document and, in particular, should assess the risk factors
described below.</font></i></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Risks related to the Offering</font></i></b></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Volatility and absence of liquidity in the Brazilian
securities markets</font></i></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investing
in securities of emerging markets, such as Brazil, involve a greater risk than
investing in securities of issuers from more developed countries, and such
investments are regarded as being of a speculative nature. Brazilian
investments, such as the Securities in this Offering, are subject to economic
and political risks, involving, among other factors:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:16.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font> changes in the regulatory, fiscal, economic and
political environments which can affect the capacity for investors to receive
payments, in whole or in part, in relation to their investment; and</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font> restrictions on foreign investments and
repatriation of invested capital. The Brazilian securities markets are
substantially smaller, less liquid, more concentrated and more volatile than
the principal markets in US and European securities, and are less regulated and
supervised than those markets.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font> The relatively small market capitalization, and
low liquidity, of the Brazilian securities markets, can substantially limit the
trading capacity of the Securities at the desired price and moment in time.</p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Low
liquidity of the secondary market</font></i></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
secondary market that exists in Brazil for trading of Promissory Notes has
historically had low liquidity, and there is no guarantee that a market for
trading in the Securities will exist in the future that enables their holders
to sell them, if they decide in favor of the investment. Cemig Distribui&#231;&#227;o
cannot guarantee that any market for the Securities will develop, nor that it
will be liquid. The liquidity and the market for the Securities could also be
negatively affected by a general fall in the market for Promissory Notes. Such
a fall could have an adverse effect on the liquidity and markets of the
Securities, independently of the outlook for the financial performance of Cemig
Distribui&#231;&#227;o.</font></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Events for early maturity of the Securities</font></i></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
text of the security representing the Promissory Note provides that certain
events shall cause automatic early maturity of the Company&#146;s obligations, such
as application for Judicial Recovery (reorganization through the Courts) or
bankruptcy of the Issuer, non-compliance with obligations provided for in the
distribution contract, extinction of concessions and early maturity of other
debts.</font></p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:.3pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">There
are no guarantees that the Company will have sufficient funds in cash to
provide for the payment of the Securities in the event of early maturity of its
obligations. Further, the results and activities of the Issuer could suffer a
significant negative impact in the event of early maturity.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Payment
by the Guarantor</font></i></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Securities have the guarantee of Cemig, which is the controlling stockholder of
the Issuer. By reason of its activities, Cemig is subject, among others, to the
risks related to macroeconomic factors and to the risks related to the
electricity sector. If any of these risks becomes a material reality, it is not
possible to guarantee that the Guarantor, if called upon, will have the ability
to honor the payment of the Securities.</font></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Validity of stipulation of the DI Rate</font></i></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Precedent
176 of the Higher Appeal Court states that the clause which subjects the debtor
to payment of interest in accordance with the rate published by Andima/Cetip is
null. According to the Appeal Court Judgments that gave rise to this Precedent,
Andima and Cetip are entities under private law, whose purpose is the defense
of the interests of financial institutions. Although the said Precedent does
not bind the decisions of the Judiciary, the possibility exists that in a Court
dispute that Precedent may come to be applied by the Judiciary in a judgment to
the effect that the DI Rate is not valid as a factor for remuneration of
Promissory Notes. In this event, the new index must be determined by the
Judiciary, and could represent lower remuneration than the DI Rate, with
adverse affect on the yield from the Securities.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Absence
of Opinions of Counsel and Independent Auditors</font></i></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Company has not contracted lawyers or Independent Auditors for the conduction
of a process of due diligence or accounting audit, respectively, of the
information of a legal or accounting nature in relation to its business and
activities, with a view to the preparation of this instrument or of the other
documents which were made available to investors in the ambit of the Offering.
This being so, those acquiring the Securities should take their investment
decision in the knowledge that the sufficiency, veracity, quality and precision
of the information provided by the Company in this present instrument were not
verified independently by third parties contracted for such purpose.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:7.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">6. R</font></b><b><font style="font-weight:bold;">ELATIONSHIP BETWEEN THE </font>I</b><b><font style="font-weight:bold;">SSUER AND THE </font>L</b><b><font style="font-weight:bold;">EAD </font>M</b><b>ANAGER</b></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
Lead Manager is related to the Issuer through its controlling stockholder,
Banco do Brasil S.A., which contracts loan transactions and provides services
to the Issuer in commercial transactions that are usual in the financial
market, such as, among others, payroll services, payment to suppliers and
collection services.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">14</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">7. S</font></b><b><font style="font-weight:bold;">TATEMENT BY THE </font>C</b><b><font style="font-weight:bold;">OMPANY
AND THE </font>L</b><b><font style="font-weight:bold;">EAD
</font>M</b><b>ANAGER</b></p>

<p style="margin:.05pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.1.
Under the applicable regulations, the Issuer is responsible for the veracity of
the information contained in the Commencement Announcement and warrants that
that information is true, correct, consistent and sufficient, in accordance
with a statement given by the Issuer pursuant to Article 56 of CVM Instruction
400, of December 29, 2003 (&#147;CVM Instruction 400/03&#148;), which was signed by its
statutory Directors Mr. Djalma Bastos de Morais and Mr. Fl&#225;vio Decat de Moura.</font></p>

<p style="margin:16.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.2. The Lead Manager warrants that it has taken all
the measures of care and acted with high standards of diligence to ensure that
all the information provided to the market on the occasion of the registry and
the public distribution is true, consistent, correct and sufficient, in
accordance with the statement given by the Lead Manager pursuant to Article 56
of CVM instruction 400/03, which was signed by its Managing Director Mr.
Francisco Cl&#225;udio Duda.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:7.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">8. A</font></b><b>DDITIONAL INFORMATION</b></p>

<p style="margin:15.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For more information in relation to the Offering and
the Securities interested parties should visit the head office of the Lead
Manager at the address indicated in item 1.21 above, or at the CVM or at the
head office of the Issuer, at the addresses indicated below:</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="55%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:55.54%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --><b><i style="font-weight:bold;">CVM (Comiss&#227;o de Valores Mobili&#225;rios &#150;</i></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="42%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:42.08%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="55%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:55.54%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Brazilian
  Securities Commission)</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="42%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:42.08%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rua Cincinato Braga, 340 - 2</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">nd</font>, 3<font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">rd</font>&nbsp;and 4<font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&nbsp;Floors</p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="55%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:55.54%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rua Sete de
  Setembro 111, 5</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&nbsp;Floor</p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="42%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:42.08%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S&#227;o Paulo - SP</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="55%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:55.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rio de Janeiro -
  RJ</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="42%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:42.08%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:16.05pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">This document is available at the CVM for
consultation and reproduction. </font></b></p>

<p style="margin:16.05pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Headquarters of the Issuer:</font></b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:8.95pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Cemig Distribuidora S.A.<br>
</font></b>Av. Barbacena, 1200, 17<font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&#160;Floor, A1 Wing,
Bairro Santo Agostinho<br>
Belo Horizonte, Minas Gerais, Brazil<br>
Cristiano Corr&#234;a de Barros<br>
Telephone: (31) 3299-4810<br>
Fax: (31) 3299-3790<br>
Email: cbarros@cemig.com.br</p>

<p style="margin:2.5pt 0pt 12.0pt;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">The information presented here constitutes a summary of the terms and
conditions of the First Issue of Promissory Notes of Cemig Distribuidora S.A.,
which are described in the principal Promissory Note. The said terms and
conditions are merely indicative and it is not guaranteed that the information
contained here is reproduced in totality in the Promissory Note.</font></i></b></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">15</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Investment in the Securities
involves a number of risks which should be taken into account by the potential
investor. These risks include factors of liquidity, credit, market, and specific
regulation, among others, which relate both to the Issue and to the Securities
themselves.</font></i></b></p>

<p style="margin:15.55pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;The registration of this distribution with the
Securities Commission (CVM) aims only to guarantee access to the information
that will be given by the Issuer at the request of the subscribers in the
location mentioned in this notice, and does not constitute a guarantee by the
CVM of the truthfulness of the information, nor any judgment in relation to the
quality of the Issuing Company or in relation to the Securities to be
distributed.&#148;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.84%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --><img width="102" height="67" src="g174031bc05i005.jpg"></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="78%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:78.18%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This public offering was prepared in accordance with
  the Self-Regulation Code of ANBID for Public Offerings for Distribution and
  Acquisition of Securities, approved by a General Assembly of ANBID, and which
  is an integral part of the Minutes registered with the Fourth Notary&#146;s Office
  for Registry of Legal Entities of the City of S&#227;o Paulo, S&#227;o Paulo State,
  under number 510718, and this present Public Offering thus meets the minimum
  standards of information contained in the code, and ANBID shall not have any
  responsibility for the said information, nor for the quality of the Issuer,
  the Offering Parties, the participation institutions or the Securities that
  are the subject of the Public Offering.</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


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<div>
 <p style="margin:0pt 0pt .0001pt;text-align:center;"></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Summary Information on
the<br>
<b>Public Distribution of Commercial Paper Securities<br>
</b>of the First Issue<br>
by</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman"><img width="202" height="87" src="g174031bc07i001.jpg"></font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CEMIG
GERA&#199;&#195;O E TRANSMISS&#195;O S.A.<br>
<br>
</font></b>CNPJ n.&#186; 06.981.176/0001-58<br>
Av. Barbacena, 1200, 12th Floor, B1 Wing, Bairro Santo Agostinho<br>
<font style="letter-spacing:-.15pt;">Belo Horizonte - MG</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ISIN:
BRCMGTNPM007<br>
<br>
<b><i style="font-weight:bold;letter-spacing:-.1pt;">Lead Manager:</i></b></font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-style:italic;font-weight:bold;"><img width="217" height="36" src="g174031bc07i002.jpg"></font></i></b></p>

<p align="center" style="margin:6.45pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In the amount of</font></p>

<p align="center" style="margin:15.45pt 0pt 12.0pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">R$ 900,000,000.00</font></b></p>

<p style="margin:3.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.
INFORMATION ABOUT THE OFFERING</font></b></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.1.
Corporate decisions</font></b></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The First Issue of Commercial Promissory Notes (&#147;the
Offering&#148;, &#147;the Issue&#148;, and &#147;the Securities&#148;) was approved by the Board of Directors
of Cemig Gera&#231;&#227;o e Transmiss&#227;o S.A. (&#147;Cemig GT&#148;, the &#147;Issuer&#148; or &#147;the Company&#148;)
at a meeting held on June 29, 2006.</font></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.2. Total amount of the Issue</font></b></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
total amount of the issue is R$ 900,000,000.00 (nine hundred million Reais).</font></p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.3. Series</font></b></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Securities will be issued in a single series.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.4.
Quantity of Securities</font></b></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
issue is made up of 90 (ninety) Commercial Paper Securities (Promissory Notes).</font></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.5. Nominal unit value</font></b></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
par value (&#147;the Nominal Unit Value&#148;) of the Securities is R$ 10,000,000.00 (ten
million Reais).</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.6. Form</font></b></p>

<p style="margin:15.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Security shall be nominal, and issued in physical
form, and shall be held on deposit with an institution qualified to provide the
services of custody. The Securities shall be nominal and shall be transferred
by nominal endorsement, resulting in simple transfer of ownership.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.7. Date
of Issue</font></b></p>

<p style="margin:15.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For all intents and purposes, the Date of Issue of the
securities shall be the date of their actual subscription and paying-up (&#147;the
Issue Date&#148;).</font></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.8. Subscription Price</font></b></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The securities shall be subscribed for Nominal Unit
Value, in Brazilian currency, at sight, simultaneously with subscription (&#147;the
Subscription Price&#148;).</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.9.
Procedure for subscription and paying-up</font></b></p>

<p style="margin:16.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Securities must be subscribed and paid-up within 8
(eight) business days from the date of publication of the Announcement of
Commencement of Distribution of Commercial Paper Securities (&#147;the Commencement
Announcement&#148;), subject to the provisions of item 1.14 below. The placement of
the Securities shall be carried out in accordance with the procedures of the
Brazilian Promissory Notes System (&#147;NOTA&#148;), operated by the CETIP.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.10.
Remuneration</font></b></p>

<p style="margin:.4pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Remuneration interest shall be due, at the rate of
103% (one hundred and three per cent) of the average daily rate for interbank
deposits known as the &#147;<i>DI over extra-grupo Rate</i>&#148;,
on the Nominal Unit Value, expressed in the form of an annual rate in per cent,
on the 252 (two-hundred-and-fifty-two)-business-day,</font></p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">calculated and published
daily by the CETIP (Custody and Settlement Chamber) in its daily bulletin
available on its Internet page (http://www.cetip.com.br) (&#147;The DI Rate&#148; and &#147;the
Remuneration&#148;). The Remuneration shall be calculated exponentially and
cumulatively <i>pro rata tempore</i> per business
day, applicable to the Nominal Unit Value from the date of the actual
subscription and paying-up (&#147;Issue Date&#148;) of the Securities up to the Maturity
Date, in accordance with the following formula:</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J =&#160; VNe x (<i>InterestFactor - 1),</i></font></p>

<p style="margin:4.75pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Where:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J = </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>unit value
of the remuneration interest, calculated to 6 (six) decimal places, without rounding,
payable at the end of the Capitalization Period.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">VNe =</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font>the Nominal Value of the
issue, published/calculated to 6 (six) decimal places, without rounding.</p>

<p style="margin:0pt 0pt .0001pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">InterestFactor =
product of the DI Rates, summed exponentially with a percentage factor, from the
start date of the Capitalization Period, inclusive, up to the date of
termination of Capitalization Period exclusive, calculated to 8 (eight) decimal
places, without rounding, as found by the following formula:</font></p>

<p align="center" style="margin:7.65pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman"><img width="210" height="36" src="g174031bc07i003.jpg"></font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Where:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">n =</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the total
number of days of the DI Rate used in the updating of the asset, where &#147;n&#148; is a
whole number.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">P =</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>103%
(percentage applied to the DI Rate).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TDIk =</font><font size="1" style="font-size:3.0pt;">&#160;&#160; </font>the DI Rate, expressed by day,
calculated to 8 (eight) decimal places, with rounding, as follows:</p>

<p align="center" style="margin:12.0pt 0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman"><img width="142" height="54" src="g174031bc07i004.jpg"></font></p>

<p style="margin:2.15pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Where:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:13.95pt 0pt 12.0pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DIk =</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The DI Rate published
by CETIP, valid for 1 (one) business day (&#147;overnight&#148;), used to 2 (two) decimal
places.</p>

<p style="margin:13.95pt 0pt 12.0pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;Capitalization Period&#148;:
This is the time interval starting on the Issue Date, inclusive, and ending on
the date of payment of the Nominal Unit Value of the Security, exclusive, <font style="letter-spacing:-.1pt;">plus the Remuneration.</font></font></p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If at any time during the
period of validity of the Securities the DI Rate is not published, the last
previous available DI Rate shall be applied, and in this event no offsetting
between the Issuer and the holders of the Securities shall be payable when the
DI Rate that would be applicable is subsequently published.</font></p>

<p style="margin:13.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the DI Rate ceases to be published for a period of
more than 10 (ten) days, or if it is abolished or if there is a legal
impossibility of application of the DI Rate to the Securities, the legal
parameter which is established, if any, shall be used in substitution of it. If
there is not a substitute legal parameter for the DI Rate, then the weighted
average rate of remuneration of Brazilian short-term federal public securities
with maturity of 90 (ninety) days traded in the prior 30 (thirty) days, at the
time of the occurrence, shall be used.</font></p>

<p style="margin:8.55pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.11. Form of pricing</font></b></p>

<p style="margin:15.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Security shall be offered to investors with the
Remuneration mentioned in 1.10. above, without any price formation mechanisms.</font></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.12. Charges for arrears</font></b></p>

<p style="margin:2.55pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If there is a failure of punctuality in the payment of
any amount payable to the holders of the Securities, the overdue units shall be
subject to: (a) arrears interest calculated from the day of default to the date
of actual payment, at the rate of 1% (one per cent) per month, on the amount
owed, independently of the price, or notification or action in or outside the
Courts; and (b) a conventional arrears penalty payment, irreducible and of a
compensatory nature, of 2% (two per cent) on the amount due and unpaid.</font></p>

<p style="margin:8.55pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.13. Period of Maturity</font></b></p>

<p style="margin:15.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The maturity period of the Promissory Notes shall be
90 (ninety) calendar days from the date of subscription (&#147;the Maturity Date&#148;).</font></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.14. Placement regime and distribution procedure</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Lead Manager shall
carry out the distribution of the Securities on the Firm Guarantee of
Subscription basis.</font></p>

<p style="margin:2.4pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Securities shall be the object of a public
distribution, intermediated by financial institutions that are part of the
Securities Distribution System. The sharing criterion shall be proportional to
the volume of orders placed by investors. There shall be no prior reserves nor
setting of maximum or minimum lots. No contract for stabilization of the price
of the Securities shall be signed. No fund to sustain liquidity for the
Securities shall be constituted. No type of discount shall be granted by the
Lead Manager to investors interested in requiring the Securities.</font></p>

<p style="margin:13.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The placement of Securities shall begin, in accordance
with Article 3 of CVM Instruction 429 of March 22, 2006, only 5 (five) business
days after: (i) filing of the application with the CVM; (ii) publication of the
Commencement Announcement of the Offering; and (iii) availability of this
document (&#147;Automatic</font></p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registry&#148;). The placement
of the Security shall be carried out in accordance with the procedures of the
Promissory Note System (&#147;NOTA&#148;), operated by the CETIP.</font></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the CVM does not grant Automatic Registry, the terms
and conditions of this present Issue shall remain in force, but the period of 5
(five) days referred to in item 4.2 shall be replaced by the periods referred
to by CVM Instruction 134, and the term &#147;Automatic Registry&#148; shall be replaced
by &#147;Registry&#148;, which shall have the following meaning: &#147;concession of registry
of the issue by the CVM&#148;.</font></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subject to compliance with the applicable regulations,
the Lead Manager shall carry out the public distribution of the Promissory
Notes, in such a way as to ensure: (i) that the treatment given to investors is
fair and equitable; and (ii) the investment is adapted to the risk profile of
its clients.</font></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In accordance with the option provided for in Article
1 of CVM Instruction 155 of August 7, 1991, for the purposes of this Issue no
prospectus nor any advertising material intended for public disclosure shall be
used, other than the Commencement Announcement, the Closing Announcement of
Distribution and the summaries of this information on the Issue as specified in
Appendix One of CVM Instruction 155.</font></p>

<p style="margin:8.55pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.15. Target public</font></b></p>

<p style="margin:15.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Offering shall be destined solely and exclusively
to qualified investors, as defined by Article 109, sub-item (i) of CVM
Instruction 409 of 18 August 18, 2004 (&#147;Qualified Investors&#148;).</font></p>

<p style="margin:15.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Any other investors who are not Qualified Investors
should be fully aware that the present offering is not appropriate, since it is
destined exclusively for Qualified Investors who have sufficient specialization
and knowledge to take an independent investment decision on the proper grounds.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.16.
Guarantee</font></b></p>

<p style="margin:2.4pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Securities are guaranteed by a guarantee given by
Companhia Energ&#233;tica de Minas Gerais - Cemig (&#147;Cemig&#148;, or &#147;the Guarantor&#148;).</font></p>

<p style="margin:.05pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Lead Manager warrants that the guarantee by CEMIG
was duly constituted by signature of its legal representatives on the reverse
side of the physical issued form of each of the Securities, guaranteeing the
totality of the debt represented by them, and the guarantee in question was
duly approved by a meeting of the Board of Directors of CEMIG held on June 29,
2006, and is, thus, fully enforceable against CEMIG.</font></p>

<p style="margin:8.55pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.17. Early redemption</font></b></p>

<p style="margin:2.55pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company may effect early redemption of the
Securities, at its exclusive option, provided that the holders thereof are in
agreement, in accordance with the applicable legislation. In the event of
partial early redemption, this shall take place by lottery, in accordance with
Paragraph one of Article 55 of Law 6404 of December 17, 1976.</font></p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.18. Early redemption events</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The holders of the
Securities may declare automatic early maturity of all the obligations arising
from the Securities that they hold and demand immediate payment by the issuer
of the Nominal Unit Value of the Securities plus the Remuneration and charges
calculated <i>pro rata tempore,</i> from the Issue Date,
by letter formally delivered or with advice of receipt addressed to the head
office of the Issuer, in any of the following events:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 35.0pt;text-autospace:none;text-indent:-35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>decree
of bankruptcy of the Issuer and/or the Guarantor; or dissolution and/or
liquidation of the Issuer and/or Guarantor; or application for judicial or
out-of-Court recovery or bankruptcy formulated by the Issuer and/or Guarantor;
or further, any analogous event which may characterize a state of insolvency,
including agreement with creditors, in accordance with the applicable legislation;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 35.0pt;text-autospace:none;text-indent:-35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii) </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>legitimate and reiterated
protest of securities against the Issuer with individual or aggregate value
unpaid exceeding R$ 50,000,000.00 (fifty million Reais), unless the protest
shall have been filed in error of due to bad faith of third parties, and
provided this is validly proven by the Issuer, or if it is canceled or,
further, validly contested in the Courts, in any event, within a maximum period
of 30 (thirty days) calendar days from the date of maturity of the obligations;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 35.0pt;text-autospace:none;text-indent:-35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii) </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>early maturity of any
pecuniary obligation of the Issuer and/or the Guarantor, arising from default
on an obligation to pay any individual or aggregate amount in excess of <font style="letter-spacing:-.05pt;">R$ 50,000,000.00 (fifty million Reais);</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 35.0pt;text-autospace:none;text-indent:-35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv) </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>change, transfer or direct or
indirect assignment of the stockholding control of the Issuer and/or Guarantor,
other than by legal order, without the prior consent of the holders;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 35.0pt;text-autospace:none;text-indent:-35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v) </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>absorption
of the Issuer by another company, split or merger of the Issuer and/or of the Guarantor,
unless by legal orders;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 35.0pt;text-autospace:none;text-indent:-35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi) </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>privatization of the Issuer
and/or Guarantor;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 35.0pt;text-autospace:none;text-indent:-35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii) </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>termination, for any reason
whatsoever, of any of the concession contracts held by the Issuer and/ or
Guarantor; or</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 35.0pt;text-autospace:none;text-indent:-35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(viii) </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>unjustified default by the Issuer
and/ or Guarantor, or absence of legal and/or Court measures required for the
non-payment of any debt or any obligation to pay, under any agreement in which either
or both are lender or guarantor, with individual or aggregate amount exceeding R$
50,000,000.00 (fifty million Reais).</p>

<p style="margin:12.0pt 0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.19. Trading location</font></b></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Securities shall be traded in the over-the-counter
market, through the NOTA system.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.20.
Payment location</font></b></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The payments relating to the Securities shall be
carried out in accordance with the procedures of CETIP, for the Securities
registered on the NOTA, or, for the holders of the Securities who are not
linked to the third system, at the head office of the Issuer.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">6</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.21. Lead manager</font></b></p>

<p style="margin:.05pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Lead Manager of the offering is BB Banco de
Investimento S.A., which may be contacted at the following address:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">BB Banco
de Investimento S.A.<br>
</font></b>Rua Senador Dantas, 105 - 36<font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&#160;Floor<br>
Rio de Janeiro - RJ<br>
Att.: Sra. Mar&#237;lia de Oliveira Carmo<br>
Telephone: (21) 3808-3556<br>
Fax: (21) 3808-3239<br>
Email: marilia@bb.com.br/gemec@bb.com.br</p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.22. Use of proceeds</font></b></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The proceeds from the public distribution of the
Securities shall be used to strengthen the Company&#146;s cash position in relation
to debt becoming due since January 2006, and for payment of debt becoming due
during the rest of the year.</font></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.23. Mandated bank</font></b></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Banco do
Brasil S.A. shall be the mandated bank.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.24.
Sharing procedure</font></b></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The sharing criterion shall be of proportionality to
the volume of orders placed by investors.</font></p>

<p style="margin:4.5pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.
OVERVIEW OF THE COMPANY</font></b></p>

<p style="margin:8.9pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.1.
Brief history</font></b></p>

<p style="margin:.5pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cemig Gera&#231;&#227;o e Transmiss&#227;o is an unlisted Brazilian
corporation, a wholly owned subsidiary of Companhia Energ&#233;tica de Minas Gerais
- - Cemig, constituted on September 8, 2004. It began operating on January 1,
2005, consequent upon the separation of the activities of Companhia Energ&#233;tica
de Minas Gerais - Cemig.</font></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The concession contract of Companhia Energ&#233;tica de
Minas Gerais - Cemig for electricity distribution, signed in 1997, required
that its operations be restructured by the separation of the activities of
generation, transmission and distribution into wholly owned subsidiaries (&#147;Unbundling&#148;).</font></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Additionally, Provisional Measure 144, of December 11,
2003, which was subsequently converted into Federal Law 10848 of March 15,
2004, governing restructuring of the model of the Brazilian electricity sector,
required the division - into separate companies - of the activities of
generation and transmission from the activity of electricity distribution.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">7</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:1.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On September 8, 2004 two wholly-owned subsidiaries of
Companhia Energ&#233;tica de Minas Gerais - Cemig were formed, namely Cemig Gera&#231;&#227;o
e Transmiss&#227;o S.A., and Cemig Distribui&#231;&#227;o S.A.</font></p>

<p style="margin:13.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The power plants, transmission lines and other assets
and liabilities related to the electricity generation and transmission assets
of Companhia Energ&#233;tica de Minas Gerais - Cemig, including the consortia for
production of electricity, were transferred to Cemig Gera&#231;&#227;o e Transmiss&#227;o,
effective January 1, 2005.</font></p>

<p style="margin:15.55pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The transfer of the generation concession is in the
process of approval by the Brazilian National Electricity Agency, Aneel. The proposal
for transfer of the concessions of Companhia Energ&#233;tica de Minas Gerais - Cemig
was approved by Aneel through Authorizing Resolution 407 of December 20, 2004.
However, some concession contracts are still at the signature stage, and as a
result the procedure of transfer of the concessions has not yet been concluded.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.2.
Objects</font></b></p>

<p style="margin:.05pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The objects of the Company are: a) to study, plan,
draw up, build, operate and commercially operate electricity generation,
transmission and sale systems and related services for which concessions have
been or may come to be granted, by any means under law, or to companies in
which it holds stockholding control; b) to carry out activities in the
different fields of energy, from whatever source, with a view to economic or
commercial operation; c) to provide consultancy service, within its area of
operation, to companies both in Brazil and worldwide; d) to carry out
activities directly or indirectly related to its objects.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.3. The
Company&#146;s activities</font></b></p>

<p style="margin:2.5pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cemig Gera&#231;&#227;o e Transmiss&#227;o operates in the area of
generation and transmission of electricity and has 45 power plants, of which 42
are hydroelectric, one is a wind power plant and two are thermal generation
plants, and transmission lines most of which are integrated into the basic network
of the Brazilian generation and transmission system.</font></p>

<p style="margin:1.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As well as the concessions for generation and
transmission given by Aneel, the Company takes part in consortia for
concessions of electricity generation for which companies with an independent
legal existence have not been constituted to manage the operation of those
concessions.</font></p>

<p style="margin:6.55pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">3. SELECTED FINANCIAL INFORMATION</font></b></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The table below gives the principal consolidated
financial data of the Issuer. These should be read in conjunction with its
complete financial statements. The Company&#146;s activities began only on January
1, 2005.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">8</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">R$ &#145;000</font></b></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="54%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:54.52%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="8%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">31/12/2004</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="8%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">31/12/2005</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="8%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">31/03/2005</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="8%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">31/03/2006</font></b></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.82%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.52%;">
  <p align="center" style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-align:center;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Assets</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.52%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Current assets</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">988,311</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">662,849</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,094,310</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.52%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Long term assets</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">229,840</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">386,299</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">234,670</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.52%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fixed assets</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5,886,724</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5,702,514</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5,870,412</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.52%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total assets</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7,104,875</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,751,662</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7,199,392</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.52%;">
  <p align="center" style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-align:center;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Liabilities</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.52%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Current
  liabilities</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,748,186</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,364,468</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,753,482</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.52%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Long term
  liabilities</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,436,482</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,990,386</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,404,792</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.52%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stockholders&#146;
  equity</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,920,207</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,396,808</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,041,118</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.52%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total
  liabilities</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7,104,875</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,751,662</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7,199,392</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.52%;">
  <p align="center" style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-align:center;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Income statement</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.52%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net operational
  revenue</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,964,157</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">461,087</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">522,050</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.52%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cost of services
  provided*</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1,121,164</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(176,869</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(255,607</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.52%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Gross profit</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">842,993</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">284,218</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">266,443</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.52%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Operational
  profit</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">284,585</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">209,930</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">184,245</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.52%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Non-operational
  profit</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(5,321</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(929</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(952</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="54%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.52%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net profit after income
  tax</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">468,451</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">139,608</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.74%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">120,911</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.82%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><hr size="1" width="160" noshade color="black" align="left" style="width:120.0pt;"></div>

<p style="margin:.5pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">* &#147;Cost of services provided&#148;: The Issuer&#146;s operations
separate &#147;cost of electricity&#148; and &#147;cost of operation&#148;, in accordance with the
Chart of Accounts of the electricity sector.</font></p>

<p style="margin:9.05pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">3.1. Independent Auditor</font></b></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Issuer&#146;s financial statements for the business
years ended December 31, 2004 and 2005, and the period ended March 31, 2006,
were audited by Deloitte Touche Tohmatsu. The quarterly information for March
31, 2005 was the subject of a limited review by the said Independent Auditors,
in accordance with the determinations of the CVM in relation to the preparation
of quarterly financial statements (ITRs).</font></p>

<p style="margin:7.6pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4.
INFORMATION ABOUT THE GUARANTOR</font></b></p>

<p style="margin:.05pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Companhia Energ&#233;tica de Minas Gerais - Cemig,
constituted on May 22, 1952, is a corporation with mixed private sector and
public sector stockholdings, whose purpose is to operate, and to operate
commercially, electricity generation, transmission, distribution and sales
systems and related services; to carry out activities in the various fields of
energy, from any source, with a view to economic and commercial operation; to
provide consultancy services, within its area of operation, to companies both
inside and outside Brazil; and to carry out activities directly or indirectly
related to its objects.</font></p>

<p style="margin:.05pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">These activities may be exercised directly by
Companhia Energ&#233;tica de Minas Gerais - Cemig, or, as intermediary, by companies
constituted by it, or in which it any time comes to hold a majority or minority
stake, upon decision by the Board of Directors, in accordance with State Laws
828 of 4 December 1951, 8655 of 18 September 18 1984, 15290 of 4 August 2004,
and 16078 of 26 April 2006.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">9</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4.1. Registered capital</font></b></p>

<p style="margin:.3pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On May 31, 2006, the registered capital of Companhia
Energ&#233;tica de Minas Gerais - Cemig was R$ 1,621,538,000, in 70,874,167,923
common shares and 91,279,651,102 preferred shares, all being book-entry shares
with Nominal Unit Value of R$ 0.01.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This
table shows the distribution of the registered capital of Cemig on May 31,
2006.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="19%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:19.74%;">
  <p align="left" style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Stockholders</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Common</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">%</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Preferred</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">%</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:11.06%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Total</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">%</font></b></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:19.74%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">State of Minas
  Gerais</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">36,116,304,884</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">51</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">102</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:11.06%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">36,116,304,986</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">22</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.74%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Other entities of
  the State</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">9,351,410</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">1,906,289,993</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">2</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:11.06%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">1,915,641,403</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">1</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.74%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Southern Electric
  Brasil</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:11.06%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.74%;">
  <p style="margin:0pt 0pt .0001pt 24.0pt;page-break-after:avoid;text-indent:-8.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Participa&#231;&#245;es Ltda.</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">23,362,956,173</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">33</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:11.06%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">23,362,956,173</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">14</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.74%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Others -</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:11.06%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.74%;">
  <p style="margin:0pt 0pt .0001pt 16.0pt;page-break-after:avoid;text-indent:-8.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">In Brazil</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">7,246,506,670</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">10</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">27,378,656,643</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">29</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:11.06%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">34,625,163,313</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">21</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.74%;">
  <p style="margin:0pt 0pt .0001pt 16.0pt;page-break-after:avoid;text-indent:-8.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Outside Brazil</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">4,139,048,786</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">6</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">61,994,704,364</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">69</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:11.06%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">66,133,753,150</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">42</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.74%;">
  <p style="margin:0pt 0pt .0001pt 32.0pt;text-indent:-8.0pt;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">Total</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">70,874,167,923</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">100</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">91,279,651,102</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">100</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;width:11.06%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">162,153,819,025</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt 0pt;width:10.9%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">100</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:11.5pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4.2. Brief description of the principal
stockholders</font></b></p>

<p style="margin:15.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The principal stockholders of Companhia Energ&#233;tica de
Minas Gerais - Cemig are: the State of Minas Gerais; and Southern Electric
Brasil Participa&#231;&#245;es Ltda., a joint venture constituted in 1994. The voting
rights related to the shares held by them are the same.</font></p>

<p style="margin:2.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4.3. Brief
description of the subsidiaries</font></b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Cemig </font></b>has
stockholdings in the following companies that were in operation on March 31,
2006:</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.05pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cemig Gera&#231;&#227;o e Transmiss&#227;o S.A.</font></u>
(subsidiary, 100.00% stake) - Generation and transmission of electricity,
through 45 power plants, 42 being hydroelectric, one a wind power plant and two
thermal plants, and their transmission lines, most of them belonging to the
Brazilian national generation and transmission grid system.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cemig Distribui&#231;&#227;o S.A.</font></u> (subsidiary
- - 100.00% stake) - Distribution of electricity through distribution networks
and lines in approximately 97.00% of the Brazilian State of Minas Gerais.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">S&#225; Carvalho S.A.</font></u> (subsidiary -
100.00% stake) - Production and sale of electricity, as a holder of a
concession for public electricity service, through the S&#225; Carvalho
hydroelectric power plant.</p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">10</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 6.0pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Usina T&#233;rmica Ipatinga
S.A.</font></u> (subsidiary - stake 100.00%) - Production and sale,
under the independent production regime, of thermally produced electricity,
through the Ipatinga thermal plant, located on the premises of Usiminas (Usinas
Sider&#250;rgicas de Minas Gerais S.A.).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Companhia de G&#225;s de Minas Gerais - Gasmig</font></u>
(&#147;Gasmig&#148;) (jointly controlled - 55.19% stake) - Acquisition, transport and
distribution of combustible gas or sub-products and derivatives, through
concession for distribution of gas in the State of Minas Gerais, granted by the
government of the State of Minas Gerais.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:9.0pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Empresa de Infovias S.A. </font></u>(&#147;Infovias&#148;)
(subsidiary &#150; 99.94% stake) &#150; Provision and commercial exploration of a specialized
service in the area of telecommunications, by means of an integrated system consisting
of fiber optic cables, coaxial cables, electronic and associated equipment (multi-service
network). Infovias has a 69.25% stake in Way TV Belo Horizonte S.A., which
operates commercial cable TV and Internet services in certain cities of Minas
Gerais.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Efficientia S.A.</font></u> (subsidiary -
100.00% stake) - Provides electricity efficiency and optimization services and
energy solutions through studies and execution of projects, as well as
providing services of operation and maintenance in energy supply facilities.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Horizontes Energia S.A.</font></u> (subsidiary
- - 100.00% stake) - Production and sale of electricity, in the independent
product mode, through the Machado Mineiro and Salto do Paraopeba hydroelectric
power plants, in the State of Minas Gerais, and Salto do Volt&#227;o e Salto do
Passo Velho, in the State of Santa Catarina;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:16.0pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Central Termel&#233;trica de Cogera&#231;&#227;o S.A.</font></u>
(subsidiary - 100.00% stake) - Production and sale of thermally generated electricity,
as an independent producer, through the construction and operation of the
thermal power plant known as the Barreiro Thermal Power Plant, located on the
premises of Vallourec &amp; Mannesmann Tubes, in the State of Minas Gerais. The
concession was transferred to UTE Barreiro S.A. in the first quarter of 2006.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rosal Energia S.A.</font></u> (subsidiary -
100.00% stake) - Production and sale of electricity, as a public electricity
service concession holder, through the Rosal hydroelectric power plant located
on the border between the States of Rio de Janeiro and Esp&#237;rito Santo, Brazil.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Central Hidrel&#233;trica Pai Joaquim S.A.</font></u>
(subsidiary - 100.00% stake) - Production and sale of electricity as an
independent producer. The concession was transferred to Cemig PCH S.A. in the
first quarter of 2006.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Companhia Transleste de Transmiss&#227;o</font></u>
(jointly controlled - 25.00% stake) - Operation of a 345 kV transmission line
connecting the substation located in Montes Claros to the substation of the
Irap&#233; hydroelectric power plant.</p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">11</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.05pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cemig PCH S.A.</font></u> (subsidiary - 100.00%
stake) - Production and sale of electricity under the Independent Power
Producer Regime, through the Pai Joaquim hydroelectric power plant;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cemig Capim Branco Energia S.A.</font></u>
(subsidiary - stake 100.00%) - Production and sale of electricity under the
Independent Power Producer Regime, through the Capim Branco hydroelectric power
plant, built through a consortium with private sector partners;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">UTE Barreiro S.A.</font></u> (subsidiary -
stake 100.00%) - Production and sale of thermo-electric energy, under the
Independent Power Producer Regime, through construction and commercial
operation of the thermoelectric power plant named UTE Barreiro, located in the
premises of Vallourec &amp; Mannesmann Tubes, in the State of Minas Gerais;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:16.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Cemig</font></b> also has stockholdings in
the companies listed below, which were in the pre-operational phase on March
31, 2006:</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:16.0pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cemig Trading S.A.</font></u> (subsidiary -
100.00% stake) - Sale and intermediation of business transactions related to
energy;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Companhia de Transmiss&#227;o Centroeste de Minas</font></u>
(jointly controlled - 51.00% stake) - Construction, implementation, operation
and maintenance of the electricity transmission facilities of the basic network
of the national grid - the 345 kV Furnas-Pimenta transmission line.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:9.0pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Companhia Transudeste de
Transmiss&#227;o</font></u> (jointly controlled &#150; 24.00% stake) &#150;
Construction, implementation, operation and maintenance of the electricity
transmission facilities of the national grid - the 345 kV Itutinga-Juiz de Fora
transmission line.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:8.95pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Companhia Transirap&#233; de Transmiss&#227;o</font></u>
(jointly controlled &#150; 24.50% stake) &#150; Construction, implementation, operation
and maintenance of the electricity transmission facilities of the national grid
- - the 230 kV Irap&#233;-Ara&#231;ua&#237; transmission line.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:9.0pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Transchile Charr&#250;a
Transmisi&#243;n S.A.</font></u> &#150; (&#147;Transchile&#148;) (jointly controlled &#150; 49.00%
stake) &#150;Implementation, operation and maintenance of the Charr&#250;a-Nueva Temuco
220 kV transmission line and two sections of transmission line at the Charr&#250;a
and Nueva Temuco substations, in the central region of Chile.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.05pt 0pt 12.0pt;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rio Minas Energia Participa&#231;&#245;es S.A</font></u>
(jointly controlled - stake 25.00%) - This company was constituted in
partnership with Andrade Gutierrez Concess&#245;es S.A., J.L.A. Participa&#231;&#245;es S.A.
and Pactual Energia Participa&#231;&#245;es S.A. initially for the purpose of evaluation
of the acquisition of the stake in LIGHT S.A. The contract for purchase and
sale to complete this transaction was signed on March 28, 2006.</p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">5. RISK FACTORS</font></b></p>

<p style="margin:15.95pt 0pt 12.0pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Before taking an investment decision in relation to
the Securities, potential investors should carefully consider, in the light of
their own financial situations and investment objectives, all the information
available in this document and, in particular, should assess the risk factors
described below.</font></i></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Risks related to the Offering</font></i></b></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Volatility and absence of liquidity in the
Brazilian securities markets</font></i></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investing in securities of emerging markets, such as
Brazil, involve a greater risk than investing in securities of issuers from
more developed countries, and such investments are regarded as being of a
speculative nature. Brazilian investments, such as the Securities in this
Offering, are subject to economic and political risks, involving, among other
factors:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:16.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font> changes in the regulatory, fiscal, economic and
political environments which can affect the capacity for investors to receive
payments, in whole or in part, in relation to their investment; and</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font> restrictions on foreign investments and
repatriation of invested capital. The Brazilian securities markets are
substantially smaller, less liquid, more concentrated and more volatile than
the principal markets in US and European securities, and are less regulated and
supervised than those markets.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font> The relatively small market capitalization, and
low liquidity, of the Brazilian securities markets, can substantially limit the
trading capacity of the Securities at the desired price and moment in time.</p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Low
liquidity of the secondary market</font></i></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The secondary market that exists in Brazil for trading
of Promissory Notes has historically had low liquidity, and there is no
guarantee that a market for trading in the Securities will exist in the future
that enables their holders to sell them, if they decide in favor of the
investment. Cemig Gera&#231;&#227;o e Transmiss&#227;o cannot guarantee that any market for
the Securities will develop, nor that it will be liquid. The liquidity and the
market for the Securities could also be negatively affected by a general fall
in the market for Promissory Notes. Such a fall could have an adverse effect on
the liquidity and markets of the Securities, independently of the outlook for
the financial performance of Cemig Gera&#231;&#227;o e Transmiss&#227;o.</font></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Events for early maturity of the Securities</font></i></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The text of the security representing the Promissory
Note provides that certain events shall cause automatic early maturity of the
Company&#146;s obligations, such as application for Judicial Recovery
(reorganization through the Courts) or bankruptcy of the Issuer, non-compliance
with obligations provided for in the distribution contract, extinction of
concessions and early maturity of other debts.</font></p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:.3pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">There are no guarantees that the Company will have
sufficient funds in cash to provide for the payment of the Securities in the
event of early maturity of its obligations. Further, the results and activities
of the Issuer could suffer a significant negative impact in the event of early
maturity.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Payment
by the Guarantor</font></i></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Securities have the guarantee of Cemig, which is
the controlling stockholder of the Issuer. By reason of its activities, Cemig
is subject, among others, to the risks related to macroeconomic factors and to
the risks related to the electricity sector. If any of these risks becomes a
material reality, it is not possible to guarantee that the Guarantor, if called
upon, will have the ability to honor the payment of the Securities.</font></p>

<p style="margin:8.95pt 0pt 12.0pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Validity of stipulation of the DI Rate</font></i></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Precedent 176 of the Higher Appeal Court states that
the clause which subjects the debtor to payment of interest in accordance with
the rate published by Andima/Cetip is null. According to the Appeal Court
Judgments that gave rise to this Precedent, Andima and Cetip are entities under
private law, whose purpose is the defense of the interests of financial
institutions. Although the said Precedent does not bind the decisions of the
Judiciary, the possibility exists that in a Court dispute that Precedent may
come to be applied by the Judiciary in a judgment to the effect that the DI
Rate is not valid as a factor for remuneration of Promissory Notes. In this
event, the new index must be determined by the Judiciary, and could represent
lower remuneration than the DI Rate, with adverse affect on the yield from the
Securities.</font></p>

<p style="margin:9.0pt 0pt 12.0pt;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Absence
of Opinions of Counsel and Independent Auditors</font></i></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company has not contracted lawyers or Independent
Auditors for the conduction of a process of due diligence or accounting audit,
respectively, of the information of a legal or accounting nature in relation to
its business and activities, with a view to the preparation of this instrument
or of the other documents which were made available to investors in the ambit
of the Offering. This being so, those acquiring the Securities should take
their investment decision in the knowledge that the sufficiency, veracity,
quality and precision of the information provided by the Company in this
present instrument were not verified independently by third parties contracted
for such purpose.</font></p>

<p style="margin:7.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">6.
RELATIONSHIP BETWEEN THE ISSUER AND THE LEAD MANAGER</font></b></p>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Lead Manager is related to the Issuer through its
controlling stockholder, Banco do Brasil S.A., which contracts loan
transactions and provides services to the Issuer in commercial transactions
that are usual in the financial market, such as, among others, payroll
services, payment to suppliers and collection services.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">14</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">7. STATEMENT BY THE COMPANY AND THE LEAD MANAGER</font></b></p>

<p style="margin:.05pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.1. Under the applicable regulations, the Issuer is
responsible for the veracity of the information contained in the Commencement
Announcement and warrants that that information is true, correct, consistent
and sufficient, in accordance with a statement given by the Issuer pursuant to
Article 56 of CVM Instruction 400, of December 29, 2003 (&#147;CVM Instruction
400/03&#148;), which was signed by its statutory Directors Mr. Djalma Bastos de
Morais and Mr. Fl&#225;vio Decat de Moura.</font></p>

<p style="margin:16.0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.2. The Lead Manager warrants that it has taken all
the measures of care and acted with high standards of diligence to ensure that
all the information provided to the market on the occasion of the registry and
the public distribution is true, consistent, correct and sufficient, in
accordance with the statement given by the Lead Manager pursuant to Article 56
of CVM instruction 400/03, which was signed by its Managing Director Mr.
Francisco Cl&#225;udio Duda.</font></p>

<p style="margin:7.0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">8.
ADDITIONAL INFORMATION</font></b></p>

<p style="margin:15.95pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For more information in relation to the Offering and
the Securities interested parties should visit the head office of the Lead
Manager at the address indicated in item 1.21 above, or at the CVM or at the
head office of the Issuer, at the addresses indicated below:</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="55%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:55.48%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --><b><i style="font-weight:bold;">CVM (Comiss&#227;o de Valores Mobili&#225;rios -</i></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="42%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:42.12%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="55%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:55.48%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Brazilian
  Securities Commission)</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="42%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:42.12%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rua Cincinato Braga, 340 - 2</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">nd</font>, 3<font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">rd</font>&nbsp;and 4<font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&nbsp;Floors</p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="55%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:55.48%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rua Sete de
  Setembro 111, 5th Floor</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="42%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:42.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S&#227;o Paulo - SP</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="55%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:55.48%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rio de Janeiro -
  RJ</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="42%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:42.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:16.05pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">This document is available at the CVM for
consultation and reproduction.</font></b></p>

<p style="margin:16.05pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Headquarters of the Issuer:</font></b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:8.95pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Cemig Gera&#231;&#227;o e Transmiss&#227;o S.A.<br>
</font></b>Av. Barbacena, 1200, 12th Floor, B1 Wing, Bairro Santo
Agostinho<br>
Belo Horizonte, Minas Gerais, Brazil<br>
Cristiano Corr&#234;a de Barros<br>
Telephone: (31) 3299-4810<br>
Fax: (31) 3299-3790<br>
Email: cbarros@cemig.com.br</p>

<p style="margin:2.5pt 0pt 12.0pt;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">The information presented here
constitutes a summary of the terms and conditions of the First Issue of
Promissory Notes of Cemig Gera&#231;&#227;o e Transmiss&#227;o S.A., which are described in
the principal Promissory Note. The said terms and conditions are merely
indicative and it is not guaranteed that the information contained here is
reproduced in totality in the Promissory Note.</font></i></b></p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Investment in the Securities
involves a number of risks which should be taken into account by the potential
investor. These risks include factors of liquidity, credit, market, and
specific regulation, among others, which relate both to the Issue and to the
Securities themselves.</font></i></b></p>

<p style="margin:15.55pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;The registration of this distribution with the
Securities Commission (CVM) aims only to guarantee access to the information
that will be given by the Issuer at the request of the subscribers in the
location mentioned in this notice, and does not constitute a guarantee by the
CVM of the truthfulness of the information, nor any judgment in relation to the
quality of the Issuing Company or in relation to the Securities to be
distributed.&#148;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.84%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --><img width="102" height="67" src="g174031bc07i005.jpg"></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="78%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:78.18%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This public offering was prepared in accordance with
  the Self-Regulation Code of ANBID for Public Offerings for Distribution and Acquisition
  of Securities, approved by a General Assembly of ANBID, and which is an
  integral part of the Minutes registered with the Fourth Notary&#146;s Office for
  Registry of Legal Entities of the City of S&#227;o Paulo, S&#227;o Paulo State, under
  number 510718, and this present Public Offering thus meets the minimum
  standards of information contained in the code, and ANBID shall not have any
  responsibility for the said information, nor for the quality of the Issuer,
  the Offering Parties, the participation institutions or the Securities that
  are the subject of the Public Offering.</font></p>
  </td>
 </tr>
</table>

<p style="margin:.1pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


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<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ANNOUNCEMENT OF
COMMENCEMENT OF PUBLIC DISTRIBUTION<br>
<b>OF THE FIRST ISSUE OF COMMERCIAL PAPER
SECURITIES<br>
</b>BY</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman"><img width="193" height="80" src="g174031bc09i001.jpg"></font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CEMIG
DISTRIBUI&#199;&#195;O S.A.</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CNPJ n.&#186;
06.981.180/0001-16<br>
Av. Barbacena, 1200, 17th Floor, A1 Wing, Bairro Santo Agostinho<br>
Belo Horizonte, Minas Gerais, Brazil</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ISIN: BRCMGDNPM001</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Lead Manager:</font></i></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman"><img width="258" height="42" src="g174031bc09i002.jpg"></font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In the amount of</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">R$
300,000,000.00</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1. CORPORATE DECISIONS</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The First Issue of Commercial Promissory Notes (&#147;the
Offering&#148;, &#147;the Issue&#148;, and &#147;the Securities&#148;) was approved by the Board of
Directors of Cemig Distribui&#231;&#227;o S.A. (&#147;Cemig D&#148;, the &#147;Issuer&#148; or &#147;the Company&#148;)
at a meeting held on June 29, 2006.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2. INFORMATION ABOUT THE ISSUE</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.1. Total amount of the Issue</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The total amount of the issue is R$ 300,000,000.00
(three hundred million Reais).</font></p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.2. Quantity of Securities</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The issue is made up of 30 (thirty) Commercial Paper
Securities (Promissory Notes).</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.3. Nominal unit value</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The par value (&#147;the Nominal Unit Value&#148;) of the
Securities is R$ 10,000,000.00 (ten million Reais).</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.4. Series</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Securities will be issued in a single series.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.5. Remuneration</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Remuneration interest shall be due, at the rate of
103% (one hundred and three per cent) of the average daily rate for interbank
deposits known as the &#147;<i>DI over extra-grupo
Rate</i>&#148;, on the Nominal Unit Value, expressed in the form of an annual
rate in per cent, on the 252 (two-hundred-and-fifty-two)-business-day,
calculated and published daily by the CETIP (Custody and Settlement Chamber) in
its daily bulletin available on its Internet page (http://www.cetip.com.br)
(&#147;The DI Rate&#148; and &#147;the Remuneration&#148;). The Remuneration shall be calculated
exponentially and cumulatively <i>pro rata
tempore </i>per business day, applicable to the Nominal Unit Value from
the date of the actual subscription and paying-up (&#147;Issue Date&#148;) of the Securities
up to the Maturity Date, in accordance with the following formula:</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J = VNe x (<i>InterestFactor - </i>1),</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Where:</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J = </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>unit value
of the remuneration interest, calculated to 6 (six) decimal places, without rounding,
payable at the end of the Capitalization Period.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">VNe = </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font>the Nominal Value of the
issue, published/calculated to 6 (six) decimal places, without rounding.</p>

<p style="margin:0pt 0pt 12.0pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">InterestFactor = product of the DI Rates, summed
exponentially with a percentage factor, from the start date of the
Capitalization Period, inclusive, up to the date of termination of
Capitalization Period exclusive, calculated to 8 (eight) decimal places,
without rounding, as found by the following formula:</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman"><img width="259" height="52" src="g174031bc09i003.jpg"></font></p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Where:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 60.0pt;text-autospace:none;text-indent:-40.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">n = </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the
total number of days of the DI Rate used in the updating of the asset, where
&#147;n&#148; is a whole number.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 60.0pt;text-autospace:none;text-indent:-40.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">P = </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>103%
(percentage applied to the DI Rate).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 60.0pt;text-autospace:none;text-indent:-40.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TDIk = </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the DI Rate, expressed by day, calculated
to 8 (eight) decimal places, with rounding, as follows:</p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman"><img width="152" height="55" src="g174031bc09i004.jpg"></font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Where:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 60.0pt;text-autospace:none;text-indent:-40.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DIk = </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The DI Rate
published by CETIP, valid for 1 (one) business day (&#147;overnight&#148;), used to 2
(two) decimal places.</p>

<p style="margin:12.0pt 0pt 12.0pt 60.0pt;text-autospace:none;text-indent:-40.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;Capitalization Period&#148;: This is the time interval
starting on the Issue Date, inclusive, and ending on the date of payment of the
Nominal Unit Value of the Security, exclusive, plus the Remuneration.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If at any time during the period of validity of the
Securities the DI Rate is not published, the last previous available DI Rate
shall be applied, and in this event no offsetting between the Issuer and the
holders of the Securities shall be payable when the DI Rate that would be
applicable is subsequently published.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the DI Rate ceases to be published for a period of
more than 10 (ten) days, or if it is abolished or if there is a legal
impossibility of application of the DI Rate to the Securities, the legal
parameter which is established, if any, shall be used in substitution of it. If
there is not a substitute legal parameter for the DI Rate, then the weighted
average rate of remuneration of Brazilian short-term federal public securities
with maturity of 90 (ninety) days traded in the prior 30 (thirty) days, at the
time of the occurrence, shall be used.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.6. Date of Issue and form of
paying-up</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For all intents and purposes, the Date of Issue of the
securities shall be the date of their actual subscription and paying-up (&#147;the
Issue Date&#148;). The securities shall be subscribed for Nominal Unit Value, in
Brazilian currency, at sight, on the date of subscription</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.7. Subscription Price</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The securities shall be subscribed for their Nominal
Unit Value (&#147;the Subscription Price&#148;).</font></p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.8. Period of subscription and
paying-up</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Securities must be subscribed and paid-up within 8
(eight) business days from the date of publication of this Announcement of
Commencement of Distribution of Commercial Paper Securities (&#147;the Commencement
Announcement&#148;), subject to the provisions of item 4.2 below.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.9. Form</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Security shall be nominal, and issued in physical
form, and shall be held on deposit with an institution qualified to provide the
services of custody. The Securities shall be nominal and shall be transferred
by nominal endorsement, resulting in simple transfer of ownership.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.10. Guarantee</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Securities are guaranteed by a guarantee given by
Companhia Energ&#233;tica de Minas Gerais &#151; Cemig (&#147;Cemig&#148;, or &#147;the Guarantor&#148;).</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Lead Manager warrants that the guarantee by CEMIG
was duly constituted by signature of its legal representatives on the reverse
side of the physical issued form of each of the Securities, guaranteeing the
totality of the debt represented by them, and the guarantee in question was
duly approved by a meeting of the Board of Directors of CEMIG held on June 29,
2006, and is, thus, fully enforceable against CEMIG.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.11. Use of proceeds</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The proceeds from the public distribution of the
Securities shall be used to strengthen the Company&#146;s cash position in relation
to debt becoming due since January 2006, and for payment of debt becoming due
during the rest of the year.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.12. Early redemption</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company may effect early redemption of the
Securities, at its exclusive option, provided that the holders thereof are in
agreement, in accordance with the applicable legislation. In the event of
partial early redemption, this shall take place by lottery, in accordance with
Paragraph one of Article 55 of Law 6404 of December 17, 1976.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.13. Period of Maturity</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The maturity period of the Promissory Notes shall be
90 (ninety) calendar days from the date of subscription (&#147;the Maturity Date&#148;).</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">4</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.14. Early maturity events</font></b></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The holders of the Securities may declare automatic
early maturity of all the obligations arising from the Securities that they
hold and demand immediate payment by the issuer of the Nominal Unit Value of
the Securities plus the Remuneration and charges calculated <i>pro rata tempore,</i> from the Issue Date, by
letter formally delivered or with advice of receipt addressed to the head
office of the Issuer, in any of the following events:</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.56%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->(i)</p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.06%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">decree of bankruptcy of the Issuer and/or the
  Guarantor; or dissolution and/or liquidation of the Issuer and/or Guarantor;
  or application for judicial or out-of-Court recovery or bankruptcy formulated
  by the Issuer and/or Guarantor; or further, any analogous event which may
  characterize a state of insolvency, including agreement with creditors, in
  accordance with the applicable legislation;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.56%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.06%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">legitimate and reiterated protest of securities
  against the Issuer with individual or aggregate value unpaid exceeding
  R$50,000,000.00 (fifty million Reais), unless the protest shall have been
  filed in error of due to bad faith of third parties, and provided this is
  validly proven by the Issuer, or if it is canceled or, further, validly
  contested in the Courts, in any event, within a maximum period of 30 (thirty
  days) calendar days from the date of maturity of the obligations;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.56%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.06%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">early maturity of any pecuniary obligation of the
  Issuer and/or the Guarantor, arising from default on an obligation to pay any
  individual or aggregate amount in excess of R$50,000,000.00 (fifty million
  Reais);</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.56%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.06%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">change, transfer or direct or indirect assignment of
  the stockholding control of the Issuer and/or Guarantor, other than by legal
  order, without the prior consent of the holders;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.56%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.06%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">absorption of the Issuer by another company, split
  or merger of the Issuer and/or of the Guarantor, unless by legal orders;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.56%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.06%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">privatization of the Issuer and/or Guarantor;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.56%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.06%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">termination, for any reason whatsoever, of any of
  the concession contracts held by the Issuer and/ or Guarantor; or</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.56%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(viii)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:93.06%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">unjustified default by the Issuer and/ or Guarantor,
  or absence of legal and/or Court measures required for the non-payment of any
  debt or any obligation to pay, under any agreement in which either or both
  are lender or guarantor, with individual or aggregate amount exceeding
  R$50,000,000.00 (fifty million Reais).</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.15. Placement regime</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Lead Manager shall carry out the distribution of
the Securities on the Firm Guarantee of Subscription basis.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.16 Trading</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Securities shall be traded in the over-the-counter
market, through the NOTA system.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">5</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.17. Place of payment</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The payments relating to the Securities shall be
carried out in accordance with the procedures of CETIP, for the Securities
registered on the NOTA, or, for the holders of the Securities who are not
linked to the third system, at the head office of the Issuer.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.18. Charges for arrears</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If there is a failure of punctuality in the payment of
any amount payable to the holders of the Securities, the overdue units shall be
subject to: (a) arrears interest calculated from the day of default to the date
of actual payment, at the rate of 1% (one per cent) per month, on the amount
owed, independently of the price, or notification or action in or outside the
Courts; and (b) a conventional arrears penalty payment, irreducible and of a
compensatory nature, of 2% (two per cent) on the amount due and unpaid.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.19. Target public</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Offering shall be destined solely and exclusively
to qualified investors, as defined by Article 109, sub-item (i) of CVM
Instruction 409 of 18 August 18, 2004 (&#147;Qualified Investors&#148;).</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Any other investors who are not Qualified Investors
should be fully aware that the present offering is not appropriate, since it is
destined exclusively for Qualified Investors who have sufficient specialization
and knowledge to take an independent investment decision on the proper grounds.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">3. STATEMENT BY THE COMPANY AND THE
LEAD MANAGER</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.1. Under the applicable regulations, the Issuer is
responsible for the veracity of the information contained in the Commencement
Announcement and warrants that that information is true, correct, consistent
and sufficient, in accordance with a statement given by the Issuer pursuant to
Article 56 of CVM Instruction 400, of December 29, 2003 (&#147;CVM Instruction
400/03&#148;), which was signed by its statutory Directors Mr. Djalma Bastos de
Morais and Mr. Fl&#225;vio Decat de Moura.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.2. The Lead Manager warrants that it has taken all
the measures of care and acted with high standards of diligence to ensure that
all the information provided to the market on the occasion of the registry and
the public distribution is true, consistent, correct and sufficient, in
accordance with the statement given by the Lead Manager pursuant to Article 56
of CVM instruction 400/03, which was signed by its Managing Director Mr.
Francisco Cl&#225;udio Duda.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">6</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4. DISTRIBUTION PROCEDURE</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.1. The Securities shall be the object of a public
distribution, intermediated by financial institutions that are part of the
Securities Distribution System. The sharing criterion shall be of
proportionality to the volume of orders placed by investors. There shall be no
prior reserves nor setting of maximum or minimum lots. No contract for
stabilization of the price of the Securities shall be signed. No fund to
sustain liquidity for the Securities shall be constituted. No type of discount
shall be granted by the Lead Manager to investors interested in requiring the
Securities.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.2. The placement of Securities shall begin, in
accordance with Article 3 of CVM Instruction 429 of March 22, 2006, only 5
(five) business days after: (i) filing of the application with the CVM; (ii)
publication of the Commencement Announcement of the Offering; and (iii)
availability of this document (&#147;Automatic Registry&#148;). The placement of the
Security shall be carried out in accordance with the procedures of the
Promissory Note System (&#147;NOTA&#148;), operated by the CETIP.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.3. If the CVM does not grant Automatic Registry, the
terms and conditions of this present Issue shall remain in force, but the
period of 5 (five) days referred to in item 4.2 shall be replaced by the
periods referred to by CVM Instruction 134, and the term &#147;Automatic Registry&#148;
shall be replaced by &#147;Registry&#148;, which shall have the following meaning:
&#147;concession of registry of the issue by the CVM&#148;.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.4. Subject to compliance with the applicable
regulations, the Lead Manager shall carry out the public distribution of the
Promissory Notes, in such a way as to ensure: (i) that the treatment given to
investors is fair and equitable; and (ii) the investment is adapted to the risk
profile of its clients.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.5 In accordance with the option provided for in
Article 1 of CVM Instruction 155 of August 7, 1991, for the purposes of this
Issue no prospectus nor any advertising material intended for public disclosure
shall be used, other than this Announcements of Commencement and Closing of the
Distribution and the Summary of Information on the Issue as specified in
Appendix I of CVM Instruction 155.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">5. LOCATIONS FOR ACQUISITION OF THE
SECURITIES</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Those interested in acquiring the Securities may
contact the Lead Manager of the Offering at the following address:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">BB Banco de Investimento S.A.<br>
</font></b>Rua Senador Dantas, 105 &#150; 36<font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&#160;Floor<br>
Rio de Janeiro - RJ<br>
Att: Sra. Mar&#237;lia de Oliveira Carmo<br>
Telephone: (21) 3808-3556<br>
Fax: (21) 3808-3239<br>
Email: marilia@bb.com.br/gemec@bb.com.br</p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">7</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">6. ADDITIONAL INFORMATION</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A full presentation of the details of this Offering is
available on the web pages of the Lead Manager (www.bb.com.br), the Issuer (
www.cemig.com.br), the CVM (www.cvm.gov.br) and Cetip ( www.cetip.com.br).</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For more information in relation to the Offering and
the Securities interested parties should visit the head office of the Lead
Manager at the address indicated in item 5 above, or at the CVM, at the CETIP
or at the head office of the Issuer, at the addresses indicated below: </font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.6%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --><b>CVM <i>(Comiss&#227;o de Valores Mobili&#225;rios &#150;</i></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="55%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:55.42%;">
  <p style="margin:0pt 0pt .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.6%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Brazilian
  Securities Commission)</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:55.42%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rua Cincinato Braga, 340 &#150; 2</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">nd</font>, 3<font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">rd</font>&nbsp;and 4<font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&nbsp;Floors</p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rua Sete de
  Setembro 111, 5th Floor</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:55.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S&#227;o Paulo &#150; SP</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rio de Janeiro &#150;
  RJ</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:55.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:12.0pt 0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CETIP (</font></b><i>C&#226;mara de Csut&#243;dia e Liquida&#231;&#227;o</i><b> &#150; Custody and Settlement Chamber)<br>
</b>Rua L&#237;bero Badar&#243;, 425, 24<font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&#160;Floor<br>
01009-000 &#151; S&#227;o Paulo - SP<br>
www.cetip.com.br</p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Headquarters of the Issuer:</font></b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Cemig Distribui&#231;&#227;o S.A.<br>
</font></b>Av. Barbacena, 1200, 17<font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&#160;Floor, A1 Wing,
Bairro Santo Agostinho<br>
Belo Horizonte, Minas Gerais, Brazil<br>
Att: Cristiano Corr&#234;a de Barros<br>
Telephone: (31) 3299-4810<br>
Fax: (31) 3299-3790&#160; Email:
cbarros@cemig.com.br</p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Date of commencement of the Offering:
5 (five) business days after the publication of this Commencement Announcement,
that is to say on July 26, 2006, as stated in item 4.2.&#160; The application for registry with the CVM was
made on July 14, 2006, in accordance with Article 3 of CVM Instruction 429 of
March 22, 2006.</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The registration of this distribution with the Securities
Commission (CVM) aims only to guarantee access to the information that will be
given by the Issuer at the request of the subscribers in the location mentioned
in this notice, and does not constitute a guarantee by the CVM of the
truthfulness of the </font></p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">information, nor any judgment in relation to the
quality of the Issuing Company or in relation to the Securities to be
distributed.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.84%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --><img width="102" height="67" src="g174031bc09i005.jpg"></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="78%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:78.18%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This public offering was prepared in accordance with
  the Self-Regulation Code of ANBID for Public Offerings for Distribution and
  Acquisition of Securities, approved by a General Assembly of ANBID, and which
  is an integral part of the Minutes registered with the Fourth Notary&#146;s Office
  for Registry of Legal Entities of the City of S&#227;o Paulo, S&#227;o Paulo State,
  under number 510718, and this present Public Offering thus meets the minimum
  standards of information contained in the code, and ANBID shall not have any
  responsibility for the said information, nor for the quality of the Issuer,
  the Offering Parties, the participation institutions or the Securities that
  are the subject of the Public Offering.</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


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 <p style="margin:0pt 0pt .0001pt;text-align:center;"></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ANNOUNCEMENT OF
COMMENCEMENT OF PUBLIC DISTRIBUTION<br>
<b>OF THE FIRST ISSUE OF COMMERCIAL PAPER
SECURITIES<br>
</b>BY</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman"><img width="198" height="82" src="g174031bc11i001.jpg"></font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CEMIG
GERA&#199;&#195;O E TRANSMISS&#195;O S.A.</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CNPJ n.&#186;
06.981.176/0001-58<br>
Av. Barbacena, 1200, 12th Floor, B1 Wing, Bairro Santo Agostinho<br>
Belo Horizonte, Minas Gerais, Brazil</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ISIN: BRCMGTNPM007</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Lead Manager:</font></i></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman"><img width="216" height="39" src="g174031bc11i002.jpg"></font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In the amount of</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">R$
900,000,000.00</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.
CORPORATE DECISIONS</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The First Issue of Commercial Promissory Notes (&#147;the
Offering&#148;, &#147;the Issue&#148;, and &#147;the Securities&#148;) was approved by the Board of
Directors of Cemig Gera&#231;&#227;o e Transmiss&#227;o S.A. (&#147;Cemig GT&#148;, the &#147;Issuer&#148; or &#147;the
Company&#148;) at a meeting held on June 29, 2006.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.
INFORMATION ABOUT THE ISSUE</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.1. Total amount of the Issue</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The total amount of the
issue is R$ 900,000,000.00 (nine hundred million Reais).</font></p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.2. Quantity
of Securities</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The issue is made up of
90 (ninety) Commercial Paper Securities (Promissory Notes).</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.3.
Nominal unit value</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The par value (&#147;the
Nominal Unit Value&#148;) of the Securities is R$ 10,000,000.00 (ten million Reais).</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.4.
Series</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Securities will be
issued in a single series.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.5.
Remuneration</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Remuneration interest
shall be due, at the rate of 103% (one hundred and three per cent) of the
average daily rate for interbank deposits known as the &#147;<i>DI over extra-grupo Rate</i>&#148;, on the Nominal
Unit Value, expressed in the form of an annual rate in per cent, on the 252
(two-hundred-and-fifty-two)-business-day, calculated and published daily by the
CETIP (Custody and Settlement Chamber) in its daily bulletin available on its
Internet page (http://www.cetip.com.br) (&#147;The DI Rate&#148; and &#147;the Remuneration&#148;).
The Remuneration shall be calculated exponentially and cumulatively <i>pro rata tempore </i>per business day,
applicable to the Nominal Unit Value from the date of the actual subscription
and paying-up (&#147;Issue Date&#148;) of the Securities up to the Maturity Date, in
accordance with the following formula:</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J = VNe x (<i>InterestFactor </i>- 1),</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Where: </font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J = </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>unit value
of the remuneration interest, calculated to 6 (six) decimal places, without
rounding, payable at the end of the Capitalization Period. </p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">VNe = </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font>the Nominal Value of the
issue, published/calculated to 6 (six) decimal places, without rounding. </p>

<p style="margin:0pt 0pt 12.0pt 50.0pt;text-autospace:none;text-indent:-30.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">InterestFactor = product of the DI Rates, summed
exponentially with a percentage factor, from the start date of the Capitalization
Period, inclusive, up to the date of termination of Capitalization Period
exclusive, calculated to 8 (eight) decimal places, without rounding, as found
by the following formula:</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman"><img width="213" height="39" src="g174031bc11i003.jpg"></font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">2</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Where: </font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 60.0pt;text-autospace:none;text-indent:-40.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">n = </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the
total number of days of the DI Rate used in the updating of the asset, where
&#147;n&#148; is a whole number. </p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt 60.0pt;text-autospace:none;text-indent:-40.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">P = </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>103%
(percentage applied to the DI Rate). </p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 60.0pt;text-autospace:none;text-indent:-40.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TDIk = </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the DI Rate, expressed by day, calculated
to 8 (eight) decimal places, with rounding, as follows: </p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman"><img width="142" height="54" src="g174031bc11i004.jpg"></font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Where:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 60.0pt;text-autospace:none;text-indent:-40.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DIk = </font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The DI Rate published by CETIP, valid
for 1 (one) business day (&#147;overnight&#148;), used to 2 (two) decimal places.</p>

<p style="margin:0pt 0pt 12.0pt 60.0pt;text-autospace:none;text-indent:-40.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;Capitalization Period&#148;: This is the time interval
starting on the Issue Date, inclusive, and ending on the date of payment of the
Nominal Unit Value of the Security, exclusive, plus the Remuneration.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If at any time during the
period of validity of the Securities the DI Rate is not published, the last
previous available DI Rate shall be applied, and in this event no offsetting
between the Issuer and the holders of the Securities shall be payable when the
DI Rate that would be applicable is subsequently published.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the DI Rate ceases to
be published for a period of more than 10 (ten) days, or if it is abolished or
if there is a legal&#160; impossibility of
application of the DI Rate to the Securities, the legal parameter which is
established, if any, shall be used in substitution of it. If there is not a
substitute legal parameter for the DI Rate, then the weighted average rate of
remuneration of Brazilian short-term federal public securities with maturity of
90 (ninety) days traded in the prior 30 (thirty) days, at the time of the
occurrence, shall be used.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.6.
Date of Issue and form of paying-up</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For all intents and
purposes, the Date of Issue of the securities shall be the date of their actual
subscription and paying-up (&#147;the Issue Date&#148;). The securities shall be
subscribed for Nominal Unit Value, in Brazilian currency, at sight, on the date
of subscription</font></p>


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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.7.
Subscription Price</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The securities shall be
subscribed for their Nominal Unit Value (&#147;the Subscription Price&#148;).</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.8.
Period of subscription and paying-up</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Securities must be
subscribed and paid-up within 8 (eight) business days from the date of
publication of this Announcement of Commencement of Distribution of Commercial
Paper Securities (&#147;the Commencement Announcement&#148;), subject to the provisions
of item 4.2 below.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.9.
Form</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Security shall be
nominal, and issued in physical form, and shall be held on deposit with an
institution qualified to provide the services of custody. The Securities shall
be nominal and shall be transferred by nominal endorsement, resulting in simple
transfer of ownership.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.10.
Guarantee</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Securities are
guaranteed by a guarantee given by Companhia Energ&#233;tica de Minas Gerais &#151; Cemig
(&#147;Cemig&#148;, or &#147;the Guarantor&#148;).</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Lead Manager warrants
that the guarantee by CEMIG was duly constituted by signature of its legal
representatives on the reverse side of the physical issued form of each of the
Securities, guaranteeing the totality of the debt represented by them, and the
guarantee in question was duly approved by a meeting of the Board of Directors
of CEMIG held on June 29, 2006, and is, thus, fully enforceable against CEMIG.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.11.
Use of proceeds</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The proceeds from the
public distribution of the Securities shall be used to strengthen the Company&#146;s
cash position in relation to debt becoming due since January 2006, and for
payment of debt becoming due during the rest of the year.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.12.
Early redemption</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company may effect
early redemption of the Securities, at its exclusive option, provided that the
holders thereof are in agreement, in accordance with the applicable
legislation. In the event of partial early redemption, this shall take place by
lottery, in accordance with Paragraph one of Article 55 of Law 6404 of December
17, 1976.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">4</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.13.
Period of Maturity</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The maturity period of
the Promissory Notes shall be 90 (ninety) calendar days from the date of
subscription (&#147;the Maturity Date&#148;).</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.14.
Early maturity events</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The holders of the
Securities may declare automatic early maturity of all the obligations arising
from the Securities that they hold and demand immediate payment by the issuer
of the Nominal Unit Value of the Securities plus the Remuneration and charges
calculated <i>pro rata tempore,</i> from
the Issue Date, by letter formally delivered or with advice of receipt
addressed to the head office of the Issuer, in any of the following events:</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="6%" valign="top" style="padding:0pt 5.4pt 0pt 5.4pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt 5.4pt 0pt 5.4pt;width:93.06%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">decree of bankruptcy of the Issuer and/or the
  Guarantor; or dissolution and/or liquidation of the Issuer and/or Guarantor;
  or application for judicial or out-of-Court recovery or bankruptcy formulated
  by the Issuer and/or Guarantor; or further, any analogous event which may
  characterize a state of insolvency, including agreement with creditors, in
  accordance with the applicable legislation;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0pt 5.4pt 0pt 5.4pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii) </font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt 5.4pt 0pt 5.4pt;width:93.06%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">legitimate and reiterated protest of securities
  against the Issuer with individual or aggregate value unpaid exceeding R$&nbsp;50,000,000.00 (fifty million Reais), unless the protest shall have been filed
  in error of due to bad faith of third parties, and provided this is validly
  proven by the Issuer, or if it is canceled or, further, validly contested in
  the Courts, in any event, within a maximum period of 30 (thirty days)
  calendar days from the date of maturity of the obligations;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0pt 5.4pt 0pt 5.4pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii) </font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt 5.4pt 0pt 5.4pt;width:93.06%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">early maturity of any pecuniary obligation of the
  Issuer and/or the Guarantor, arising from default on an obligation to pay any
  individual or aggregate amount in excess of R$&nbsp;50,000,000.00 (fifty million
  Reais);</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0pt 5.4pt 0pt 5.4pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt 5.4pt 0pt 5.4pt;width:93.06%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">change, transfer or direct or indirect assignment of
  the stockholding control of the Issuer and/or Guarantor, other than by legal
  order, without the prior consent of the holders;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0pt 5.4pt 0pt 5.4pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v) </font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt 5.4pt 0pt 5.4pt;width:93.06%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">absorption of the Issuer by another company, split
  or merger of the Issuer and/or of the Guarantor, unless by legal orders;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0pt 5.4pt 0pt 5.4pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)</font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt 5.4pt 0pt 5.4pt;width:93.06%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">privatization of the Issuer and/or Guarantor;</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0pt 5.4pt 0pt 5.4pt;width:6.94%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii) </font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt 5.4pt 0pt 5.4pt;width:93.06%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">termination, for any reason whatsoever, of any of
  the concession contracts held by the Issuer and/ or Guarantor; or</font></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0pt 5.4pt 0pt 5.4pt;width:6.94%;">
  <p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(viii) </font></p>
  </td>
  <td width="93%" valign="top" style="padding:0pt 5.4pt 0pt 5.4pt;width:93.06%;">
  <p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">unjustified default by
  the Issuer and/ or Guarantor, or absence of legal and/or Court measures
  required for the non-payment of any debt or any obligation to pay, under any
  agreement in which either or both are lender or guarantor, with individual or
  aggregate amount exceeding R$&nbsp;50,000,000.00 (fifty million Reais).</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.15. Placement regime</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Lead Manager shall carry out the distribution of
the Securities on the Firm Guarantee of Subscription basis.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">5</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.16 Trading</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Securities shall be
traded in the over-the-counter market, through the NOTA system.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.17.
Place of payment</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The payments relating to
the Securities shall be carried out in accordance with the procedures of CETIP,
for the Securities registered on the NOTA, or, for the holders of the
Securities who are not linked to the third system, at the head office of the
Issuer.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.18.
Charges for arrears</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If there is a failure of
punctuality in the payment of any amount payable to the holders of the
Securities, the overdue units shall be subject to: (a) arrears interest
calculated from the day of default to the date of actual payment, at the rate
of 1% (one per cent) per month, on the amount owed, independently of the price,
or notification or action in or outside the Courts; and (b) a conventional
arrears penalty payment, irreducible and of a compensatory nature, of 2% (two
per cent) on the amount due and unpaid.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.19.
Target public</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Offering shall be
destined solely and exclusively to qualified investors, as defined by Article
109, sub-item (i) of CVM Instruction 409 of 18 August 18, 2004 (&#147;Qualified Investors&#148;).</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Any other investors who
are not Qualified Investors should be fully aware that the present offering is
not appropriate, since it is destined exclusively for Qualified Investors who
have sufficient specialization and knowledge to take an independent investment
decision on the proper grounds.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">3.
STATEMENT BY THE COMPANY AND THE LEAD MANAGER</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.1. Under the applicable regulations, the Issuer is
responsible for the veracity of the information contained in the Commencement
Announcement and warrants that that information is true, correct, consistent
and sufficient, in accordance with a statement given by the Issuer pursuant to
Article 56 of CVM Instruction 400, of December 29, 2003 (&#147;CVM Instruction
400/03&#148;), which was signed by its statutory Directors Mr. Djalma Bastos de
Morais and Mr. Fl&#225;vio Decat de Moura.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">6</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.2. The Lead Manager warrants that it has taken all
the measures of care and acted with high standards of diligence to ensure that
all the information provided to the market on the occasion of the registry and
the public distribution is true, consistent, correct and sufficient, in
accordance with the statement given by the Lead Manager pursuant to Article 56
of CVM instruction 400/03, which was signed by its Managing Director Mr.
Francisco Cl&#225;udio Duda.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4.
DISTRIBUTION PROCEDURE</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.1. The Securities shall be the objectof a public
distribution, intermediated by financial institutions that are part of the
Securities Distribution System. The sharing criterion shall be of
proportionality to the volume of orders placed by investors. There shall be no
prior reserves nor setting of maximum or minimum lots. No contract for
stabilization of the price of the Securities shall be signed. No fund to
sustain liquidity for the Securities shall be constituted. No type of discount
shall be granted by the Lead Manager to investors interested in requiring the
Securities.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.2. The placement of Securities shall begin, in
accordance with Article 3 of CVM Instruction 429 of March 22, 2006, only 5
(five) business days after: (i) filing of the application with the CVM; (ii)
publication of the Commencement Announcement of the Offering; and (iii)
availability of this document (&#147;Automatic Registry&#148;). The placement of the
Security shall be carried out in accordance with the procedures of the
Promissory Note System (&#147;NOTA&#148;), operated by the CETIP.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.3. If the CVM does not grant Automatic Registry, the
terms and conditions of this present Issue shall remain in force, but the
period of 5 (five) days referred to in item 4.2 shall be replaced by the
periods referred to by CVM Instruction 134, and the term &#147;Automatic Registry&#148;
shall be replaced by &#147;Registry&#148;, which shall have the following meaning: &#147;concession
of registry of the issue by the CVM&#148;.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.4. Subject to compliance with the applicable
regulations, the Lead Manager shall carry out the public distribution of the
Promissory Notes, in such a way as to ensure: (i) that the treatment given to
investors is fair and equitable; and (ii) the investment is adapted to the risk
profile of its clients.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.5 In accordance with the option provided for in
Article 1 of CVM Instruction 155 of August 7, 1991, for the purposes of this
Issue no prospectus nor any advertising material intended for public disclosure
shall be used, other than this Announcements of Commencement and Closing of the
Distribution and the Summary of Information on the Issue as specified in
Appendix I of CVM Instruction 155.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">5.
LOCATIONS FOR ACQUISITION OF THE SECURITIES</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Those interested in
acquiring the Securities may contact the Lead Manager of the Offering at the
following address:</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">7</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">BB Banco de Investimento S.A.<br>
</font></b>Rua Senador Dantas, 105 &#150; 36<font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&#160;Floor<br>
Rio de Janeiro - RJ<br>
Att: Sra. Mar&#237;lia de Oliveira Carmo<br>
Telephone: (21) 3808-3556<br>
Fax: (21) 3808-3239<br>
Email: marilia@bb.com.br/gemec@bb.com.br</p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">6. ADDITIONAL INFORMATION</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A full presentation of the details of this Offering is
available on the web pages of the Lead Manager (www.bb.com.br), the Issuer (
www.cemig.com.br), the CVM (www.cvm.gov.br) and Cetip ( www.cetip.com.br).</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For more information in relation to the Offering and
the Securities interested parties should visit the head office of the Lead
Manager at the address indicated in item 5 above, or at the CVM, at the CETIP
or at the head office of the Issuer, at the addresses indicated below: </font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.6%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --><b>CVM <i>(Comiss&#227;o de Valores Mobili&#225;rios &#150;</i></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="55%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:55.42%;">
  <p style="margin:0pt 0pt .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.6%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Brazilian
  Securities Commission)</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:55.42%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rua Cincinato Braga, 340 &#150; 2</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">nd</font>, 3<font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">rd</font>&nbsp;and 4<font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&nbsp;Floors</p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.6%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rua Sete de
  Setembro 111, 5</font><font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&nbsp;Floor</p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:55.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">S&#227;o Paulo &#150; SP</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="41%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:41.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rio de Janeiro &#150;
  RJ</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="55%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:55.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:12.0pt 0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CETIP (</font></b><i>C&#226;mara de Csut&#243;dia e Liquida&#231;&#227;o</i><b> - Custody and Settlement Chamber)<br>
</b>Rua L&#237;bero Badar&#243;, 425, 24<font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&#160;Floor<br>
01009-000 &#150; S&#227;o Paulo - SP<br>
www.cetip.com.br </p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Headquarters of the Issuer:</font></b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Cemig Gera&#231;&#227;o e Transmiss&#227;o S.A.<br>
</font></b>Av. Barbacena, 1200, 12<font size="1" style="font-size:6.5pt;position:relative;top:-3.0pt;">th</font>&#160;Floor, B1 Wing,
Bairro Santo Agostinho<br>
Belo Horizonte, Minas Gerais, Brazil&#160; <br>
Att: Cristiano Corr&#234;a de Barros<br><br></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">8</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Telephone: (31) 3299-4810<br>
Fax: (31) 3299-3790<br>
Email: cbarros@cemig.com.br</font></p>

<p style="margin:0pt 4.75pt 12.0pt 0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Date of commencement of the Offering:
5 (five) business days after the publication of this Commencement Announcement,
that is to say on July 26, 2006, as stated in item 4.2.&#160; The application for registry with the CVM was
made on July 14, 2006, in accordance with Article 3 of CVM Instruction 429 of
March 22, 2006.</font></b></p>

<p style="margin:0pt 4.75pt 12.0pt 0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The registration of this distribution with the
Securities Commission (CVM) aims only to guarantee access to the information
that will be given by the Issuer at the request of the subscribers in the
location mentioned in this notice, and does not constitute a guarantee by the
CVM of the truthfulness of the information, nor any judgment in relation to the
quality of the Issuing Company or in relation to the Securities to be
distributed.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.84%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --><img width="102" height="67" src="g174031bc11i005.jpg"></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="78%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:78.18%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This public offering was prepared in accordance with
  the Self-Regulation Code of ANBID for Public Offerings for Distribution and
  Acquisition of Securities, approved by a General Assembly of ANBID, and which
  is an integral part of the Minutes registered with the Fourth Notary&#146;s Office
  for Registry of Legal Entities of the City of S&#227;o Paulo, S&#227;o Paulo State,
  under number 510718, and this present Public Offering thus meets the minimum
  standards of information contained in the code, and ANBID shall not have any
  responsibility for the said information, nor for the quality of the Issuer,
  the Offering Parties, the participation institutions or the Securities that
  are the subject of the Public Offering.</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">9</font></p>
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<div style="font-family:Times New Roman;">
 <p style="margin:0pt 0pt .0001pt;text-align:center;"></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SIGNATURES</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:20.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.78%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.88%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">COMPANHIA ENERGETICA DE MINAS<br>
  GERAIS &#150; CEMIG</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.88%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.88%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="4" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.88%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="33%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:33.22%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Fl&#225;vio Decat de Moura</font></p>
  </td>
  <td width="11%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:11.56%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.88%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.68%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:38.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fl&#225;vio Decat de Moura</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.88%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.68%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:38.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Financial Officer and Investor<br>
  Relations Officer</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="342" style="border:none;"></td>
  <td width="37" style="border:none;"></td>
  <td width="34" style="border:none;"></td>
  <td width="50" style="border:none;"></td>
  <td width="199" style="border:none;"></td>
  <td width="87" style="border:none;"></td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt 288.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt 288.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt 252.0pt;text-indent:-252.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date: August 8, 2006</font></p>

</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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-----END PRIVACY-ENHANCED MESSAGE-----
