Equatorial Energia Records 1H08 EBITDA of R$338.6 Million and Net Income of R$143.7 Million

Equatorial Energia S.A. announces its results for the second quarter of 2008 (2Q08). Equatorial is a holding company with investments in CEMAR — Companhia Energetica do Estado do Maranhao and in Light S.A. (Light).

FINANCIAL AND OPERATING HIGHLIGHTS

– Consolidated net operating revenues totaled R$550.9 million in the 2Q08, 6.0% up on the 2Q07, and R$1,111.4 million year-to-date, 6.1% more than the first six months of 2007. First-half growth reflected CEMAR’s 14.1% increase and Light’s slight 1.2% upturn.
– CEMAR and Light’s billed energy volume amounted to 13,644 GWh in the 1H08, 0.9% down year-on-year. In individual terms, CEMAR’s billed volume moved up 2.1%, while Light’s fell by 1.2%.
– CEMAR’s last-12-month energy losses totaled 28.8% in the second quarter, 0.7 p.p. less than the 2Q07 ratio of 29.5%. Light’s losses came to 20.4%, in line with previous quarters.
– EBITDA grew 4.8% year-on-year in the 2Q08 to R$173.4 million, while first-half EBITDA came to R$338.6 million, 4.0% up on the 1H07.
– Equatorial posted a consolidated net income of R$71.9 million in the 2Q08 and R$143.7 million in the 1H08, 6.7% higher than the first half of 2007.

ENGLISH CONFERENCE CALL
Thursday, August 14, 2008.
12:00 p.m. (Brasilia time)
11:00 a.m. (EDT time)
Telephone: +1 (973) 935-8893
Replay: +1 (706) 645-9291
Code: 55839993

PORTUGUESE CONFERENCE CALL
Thursday, August 14, 2008.
1:00 p.m. (EDT time)
2:00 p.m. (Brasilia time)
Telephone: +55 (11) 2188-0188
Replay: +55 (11) 2188-0188
Code: Equatorial