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ELETROBRáS -Centrais Elétricas Brasileiras S.A.-151 MINUTES OF

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					ELETROBRÁS -Centrais Elétricas Brasileiras S.A.-151

MINUTES OF THE 48th ORDINARY STOCKHOLDERS’ GENERAL MEETING
AND
MINUTES OF THE 151st EXTRAORDINARY STOCKHOLDERS’ GENERAL
MEETING OF CENTRAIS ELÉTRICAS BRASILEIRAS S.A. – ELETROBRÁS

NIRE [Company Roll Registration Number]:53300000859

On April 30, 2008 at 10:00 am, at the head office of the Company, located at Setor
Comercial Norte, Quadra 04, Bloco “B”, no. 100, Sala 203, VARIG Corporate Center
Building – Brasília – DF, the Forty Eighth Ordinary Stockholders’ General Meeting and
the One Hundred and Fifty First Extraordinary Stockholders’ General Meeting of Centrais
Elétricas Brasileiras S.A – ELETROBRÁS, was held, an Open Corporate, enrolled in the
Corporate Taxpayers’ Roll under number 00001180/0001-26, with the presence of
stockholders holding common stocks in a number sufficient for the legal enforceability of
the present General Stockholders’ Meeting, according to the records set out on page 53 of
the Book of Attendance no. 4; the Union, majority stockholder, was represented by Dr.
KÁTIA APARECIDA ZANETTI DE LIMA, in exercise of the powers granted by
Ordinance/PGFN [Office of the Attorney-General of the National Treasury] no. 727, dated
June 27, 2007, published in the Federal Official Gazette on June 29, 2007. Pursuant to
article 42 of the By-Laws, Mr. ASTROGILDO FRAGUGLIA QUENTAL, Finance and
Investors Relations Director was appointed President of the Meeting, replacing the
President of ELETROBRÁS, Mr. JOSÉ ANTONIO MUNIZ LOPES, who declared the
meeting open and appointed Mr. AFRÂNIO ALENCAR MATOS FILHO to act as
secretary to the general meeting, such appointment duly approved by all the present
stockholders. The President recorded the presence of the Auditor Mr. MAURO KOPKE
DO CARMO, of the Legal Counsel Mr. ANTONIO FREDERICO PEREIRA DA SILVA,
of Mr. JAIR ANTONIO ESTEVES DA SILVA - Head of the Division of Stockholders’
Rights Management, of the General Accountant Mr. JOÃO VICENTE AMATO
TORRES, of the President of the Fiscal Council, Mr. HAILTON MADUREIRA DE
ALMEIDA and of the BDO Trevisan Independent Auditors representative, Mr. LUIZ
CARLOS DE CARVALHO. Thereafter, to compose the board of the meeting, the
President invited the representative of the Union, Dr. KÁTIA APARECIDA ZANETTI
DE LIMA, Mr. PAULO ROBERTO ESTEVES, representative of the funds: a) Citibank –
Acadian: Emerging Markets Equity Offshore Master L.P., Balentine International Equity
Fund Select, L. P.; Barclays Global Investors, N.A.; Bell Atlantic Master Trust, Brazil
MSCI Emerging Markets I; Caterpillar Investment Trust; Central States Southeast and
South Areas Pension Fund; City of Fresno Retirement Systems; College Retirement
Equities Fund Commonwealth of Pennsylvania Public School Employees’ Retirement
System; Eaton Vance Structured Emerging Markets Fund; Eaton Vance Tax – Managed
Emerging Markets Fund; Emerging Markets Equity Managers: Portfolio 1 Offshore
Master L.P.; Emerging Markets Equity Trust 3; Emerging Markets Sudan Free Equity
Index Fund; Evergreen International Balanced Income Fund; Evergreen Emerging
Markets Growth Fund; Florida Retirement System Trust Fund; Genesis Emerging Markets
Business Trust; Ibm Savings Plan; ING International Value Choice Fund; Ishares MSCI
Brazil (Free) Index Fund; Ishares MSCI BRIC Index Fund; John Hancock Funds II:
International Equity Index Fund; John Hancock Trust International Equity Index Trust A;
John Hancock Trust International Equity Index Trust B; Morgan Stanley Investment
Management Active International Allocation Trust; NTG1 – Quantitative Management
Collective Funds Trust; NTGI-QM Common Daily All Country World Ex-Us Equity
Index Fund – Lending; Nuveen Nwq Global Value Fund; Ohio School Employees
Retirement System; Omers Administration Corporation; Panagora Group Trust; Public
Employee Retirement System of Idaho; Russel Investment Company Emerging Markets
Fund; Schroeder BRICS Equity Mother Fund; Schwab Fundamental Emerging Market
Index Fund; SEI Investments Canada Company Emerging Markets Equity Fund; State of
Connecticut Retirements Plans and Trust Funds; State Street Bank and Trust Company
Investment Funds for Tax Exempt Retirement Plans; State Street Emerging Markets;
Stichting     MN       Services      Aandelenfods       Emerging      Markets;      Stichting
Bedrijfstakpensionfonds Voor de Metalektro; The Board Administration City Employees
Retirement System Los Angeles, California; The California Endowment; The California
State Teachers Retirement System; The Future Fund Board of Guardians; The Master
Trust Bank of Japan, Ltd. RE: MTBC 400035147; The Monetary Authority of Singapore;
The Pension Reserves Investment Management Board; The Public Education Employee
Retirement System of (sic) Fiscal and their respective substitute members. 5. To set the
remuneration of the members of the Administrative Management Council, the Fiscal
Council and of the Executive Board of Directors: 1. Proposal made by the Management to
convert the credits arising out of the Compulsory Loan, constituted after the realization of
the 3rd conversion approved by the 142nd Extraordinary Stockholders’ General Meeting
held on April 18, 2005, up to December 31, 2007, in the amount of two hundred and two
million, three hundred and seventy four thousand, seven hundred and sixty one reais and
seventy five cents ( R$ 202,374,761.75) into Class “B” nominative preferred stocks, at the
price equivalent to the book value per share on December 31, 2007, that is, R$ 70.795 per
share, with the consequent change to Article 6 of the company’s By-Laws in order to
comply it to the new capital stock of Eletrobrás, which shall have the following wording:
“Article 6 – Article 6 - The capital stock of the Company amounts to twenty four billion,
two hundred and ninety seven million, one hundred and sixty six thousand, twenty nine
reais and seventy seven cents ( R$ 24,297,166,029.77) divided into 905,023,527 common
stocks, 146,920 Class “A” preferred stocks and 227,186,643 class “B” preferred stocks, all
of them without par value”. 2. It is important to highlight that pursuant to opinion of CVM
[Brazilian Securities Commission], issued through the Official Letter CVM/SEP/GEA-
1/no. 199/2004, dated May 26, 2004, the pre-emption right must be granted to the
Company’s stockholders for the subscription of the capital increase. The list of
stockholders entitled to the right of that subscription shall be the list set on the day
following the date when the Extraordinary Stockholders' General Meeting was held, that
is, with term for the preemptive right to said subscription from May 5, 2008 to June 3,
2008, and right of subscription into class “B” preferred stocks, of 0.2530847% of the
stocks owned on the referred to the base date, at the same price assigned to the conversion
of the Compulsory Loan credits. Pursuant to the Ruling no. 165, dated December 11,
1991, issued by the Brazilian Securities Exchange Commission, the minimum
participation percentage in the Voting Capital necessary to request the adoption of the
multiple voting shall be of five per cent (5%). The participation in the General Meeting is
subject to the proof of delivery to ELETROBRÁS of a declaration issued by the
depositary financial institution identifying the stockholder. The referred to delivery must
be made up to April 28, 2008, at the Capital Stock Management Department – DFS,
Division of Stockholders’ Rights Management – DFSA, at Av. Presidente Vargas, 409, 9th
andar [floor], in the city of Rio de Janeiro, State of Rio de Janeiro, from 8:00 am to 12:00
pm and from 2:00 pm to 5:00 pm. Brasília, April 9, 2008. (signed) MÁRCIO PEREIRA
ZIMMERMANN - President of the Administrative Management Council”. Dismissing the
reading of the Call Notice, the President informed the stockholders that the Minutes of the
General Meeting was going to be drawn up in summary, in compliance with article 130 of
Law no. 6.404/76, what was approved by all present stockholders. The President also
informed that the Management Report, Balance Sheet further Financial Statements, the
respective Explanatory Notes and the Opinions released by the Fiscal Council and by the
Independent Auditors were published on April 9, 2008 in the Federal Official Gazette and
in newspapers, as follows: I) full version of the Financial Statements (Eletrobrás and
Controlled Companies): a) Correio Braziliense; b) Gazeta Mercantil; c) Valor Econômico.
II) full version of the Financial Statements of Eletrobrás): a) O Globo; b) Jornal do
Comércio; c) Diário Comércio e Indústria. III) summary of the Financial Statements of
Eletrobrás): a) Folha de São Paulo; b) Jornal do Brasil; C) O Estado de São Paulo; d)
Estado de Minas; e) Tribuna da Imprensa; f) Estado do Maranhão; g) O Dia; h) O
Liberal. Thereafter, the President submitted the items of the Meeting Agenda to the
present stockholders, who deliberated: (i) The Financial Statements for the fiscal year
2007, were approved, followed by the Management Report and by the Opinion released
by the Fiscal Council, with the major paragraphs recorded by the Independent Auditors.
(ii) The use of proceeds resulting from the “Fiscal Year Net Profits or Income Statements
– PLR (Profit Sharing)” was approved as proposed by the Management and in compliance
with the guidelines set by the Department of Coordination and Control of State Owned
Companies – DEST; to be in full compliance with the terms and conditions set forth in the
Program of Corporate Targets approved for the ELETROBRÁS System, through the
Official Letters nos. 421 and 651/2007/MP/SE/DEST, dated August 16, 2007 and
December 14, 2007, respectively, emphasizing that the maximum value to the distributed
to the employees of the ELETROBRÁS System, PLR companies under 2007 profit
sharing must be limited to 25% of the dividends paid by the holding to its stockholders,
and may not exceed the amount of two payrolls, excluding the charges and non usual
remuneration amounts relative to the month of December 2007; (iii) elected the members
of the Administrative Management Council, which term of office shall terminate on the
date of the Ordinary Stockholders’ General Meeting to be held in 2009, Messrs.: a) as
representatives of the Ministry of Mines and Energy – pursuant to the provisions of item I,
article 17 of ELETROBRÁS By-Laws: Mr. MÁRCIO PEREIRA ZIMMERMANN,
Brazilian, married, Electrical Engineer, resident and domiciled at Avenida Trompowski,
378, apt. 1001, Centro, Florianópolis, State of Santa Catarina, bearer of the Identity Card
no. 7020113853, issued on May 23, 1980 by SSP/RS [State Department for Public
Security – State of Rio Grande do Sul] and enrolled in the CPF [Individual Taxpayers’
Roll] under number 262.465.030-04 – Elected President; Mr. JOSÉ ANTONIO MUNIZ
LOPES, Brazilian, divorced, Electrical Engineer, resident and domiciled at Avenida
Jamaris, 64, apt 132, Bloco B – Moema – São Paulo, State of São Paulo, bearer of the
Identity Card no. 616.300, issued on May 27, 1975 by SSP/PE [State Department for
Public Security – State of Pernambuco] and enrolled in the CPF under number
005.135.394-68; Mr. JOSÉ ANTÔNIO CORRÊA COIMBRA, Brazilian, married, Civil
Engineer, resident and domiciled at SQSW 103, Bloco “J”, apt. 105, Brasília, Federal
District, bearer of the Identity Card no. 1.113.010, issued on January 18, 1977 by SSP/PA
[State Department for Public Security – State of Pará] and enrolled in CPF under number
020.950.332-72; Mr. NELSON JOSÉ HUBNER MOREIRA, Brazilian, married,
Electrical Engineer, resident and domiciled at AOS 2, Bloco G, apt 203, Brasília, Federal
District, bearer of the Identity Card no. 1.413.159, issued by IFP/RJ [Institution of
Identification Félix Pacheco] and enrolled in the CPF under number 443.875.207-87; Mr.
WAGNER BITTENCOURT DE OLIVEIRA, Brazilian, judicially separated, engineer,
resident and domiciled at Praia de Botafogo, 198, apt. 102 – Botafogo – Rio de Janeiro,
bearer of the Identity card no. 26.689-D, issued by CREA/RJ [Regional Engineering,
Architecture and Agronomy Council of Rio de Janeiro] and enrolled in the CPF under
number 337.026.597-49; Mrs. MIRIAM APARECIDA BELCHIOR, Brazilian, divorced,
Engineer, resident and domiciled in Brasília, Federal District, at SHIN QL 11, conj. 05,
casa 16 – Lago Norte, bearer of the Identity Card no. 7.603.279-6 and enrolled in the CPF
under number 056.024.938-16; Mr. VICTOR BRANCO DE HOLANDA, Brazilian,
married, teacher, B.Sc. in Economy and Accounting, PhD. In Accounting and Finance
from the Business Administration and Accounting School of the University of the State of
São Paulo, resident and domiciled at Rua Alexandre Câmara, no. 1884, in the city of
Natal, State of Rio Grande do Norte, bearer of the Identity card no. 379482, issued on
September 14, 1995 by the Ministry of Aeronautics (MAER) and enrolled in the CPF
under number 057.203.488-16, b) in compliance with Item II, article 17 of the Company’s
By-Laws which sets forth that the appointment of one Counselor is under the authority of
the Ministry of Planning, Budget and Management: Mr. LUIZ SOARES DULCI,
Brazilian, single, teacher of Portuguese Language and Literature, resident and domiciled
at SQS 113, Bloco H, apt. 404, Brasília – DF, bearer of the Identity card no. M 556.319,
issued on November 19, 1987 by SSP/MG [State Department for Public Security – State
of Minas Gerais], and enrolled in the CPF under number 405.627.197-68; the
representative of the Union justified her vote in compliance with item 1 of article 3 of
CVM Instruction no. 367, dated may 29, 2002, by virtue of public interest; c) in
compliance with Item III, article 17 of the Company’s By-Laws, which sets forth that the
appointment of one Counselor is under the authority of minority stockholders, individuals
and legal entities governed by private law: ARLINDO MAGNO DE OLIVEIRA,
Brazilian, married, Economist, resident and domiciled at Av. Afranio de Melo e Franco,
54, apt. 302 - Leblon – Rio de Janeiro – State of Rio de Janeiro, bearer of the Identity
Card no. 813.379.666, issued by IFP/RJ and enrolled in the CPF under number
281.761.977-34, all of them with term of office to terminate on the date when the 2009
Ordinary Stockholders’ General Meeting is held; (iv) elected the members of the Fiscal
Council with term of office to start on this date and to terminate on the date when the
2009 Ordinary Stockholders’ General Meeting is held, Messrs.: a) as representatives of
the Ministry of Mines and Energy: ÉDISON FREITAS DE OLIVEIRA (effective
member), Brazilian, married, business administrator, resident and domiciled in Brasília,
DF, at SQS 113 – Bloco “A” – apt. 402, bearer of the Identity card no. 3.467.551, issued
by SSP/SP [State Department for Public Security – State of São Paulo] and enrolled in the
CPF under number 003.143.238-72 and JAIREZ ELÓI DE SOUSA PAULISTA
(substitute member), Brazilian, married, business administrator, resident and domiciled in
Brasília, DF, at Colônia Agrícola Samambaia, chácara 122, lote 01, Taguatinga – Federal
District, bearer of the Identity card no. 283847, issued by SSP/DF [State Department for
Public Security – Distrito Federal], and enrolled in the CPF under number 059.622.001-
44; EWANDRO DE CAVALHO SOBRINHO (effective member), Brazilian, single,
graduate in Law, resident and domiciled in Brasília, DF, at SHIS QI 5, conjunto 10, casa
5, Lago Sul, bearer of the Identity card no. 679.741, issued by SSP/DF, and enrolled in the
CPF under number 275.980.391-00 and DANILO DE JESUS VIEIRA FURTADO
(substitute member), Brazilian, married, graduate in Social Communication, resident and
domiciled in Aracaju, State of Sergipe, at Rua Professor Antônio Fagundes de Melo, 390,
Condomínio Piazza Navona, apt. 701, Bairro 13 de Julho, bearer of the Identity card no.
15559082000-6, issued by the State Court Management, State Department for Public
Security of the State of Maranhão and enrolled in the CPF under number 215.232.202-15;
b) in compliance with Paragraph 1, article 36 of the Company’s By-Laws, which sets
forth that among the members of the Fiscal Council, one member shall be appointed by
the Minister of Finance, acting as representative of the National Treasury: HAILTON
MADUREIRA DE ALMEIDA (effective member), Brazilian, single, Mechanical
Engineer, resident and domiciled in Brasília, Federal District, at CCSW 02 Lote 5, Bl B –
Sudoeste, bearer of the Identity card no. 1238095, issued by SSP/ES [State Department
for Public Security – State of Espírito Santo] and enrolled in the CPF under number
074.981.417-95 and LUCIANA DE ALMEIDA TOLDO (substitute member), Brazilian,
married, Business Administrator, resident and domiciled in Brasília, Federal District, at
SQS 108, BI H, 402 – Asa Sul, bearer of the Identity card no. MG-10.290.358, issued by
SSP/MG [State Department for Public Security – State of Minas Gerais] and enrolled in
the CPF under number 043.563.266-36; c) in compliance with the head of article 36 of the
Company’s By-Laws, which sets forth that among the members of the Fiscal Council, one
member shall be elected by holders of minority common stocks: ANA LUCIA DE
PAIVA LORENA FREITAS (effective member), Brazilian, married, graduate in
Finance Management from FGV/RJ [Fundação Getúlio Vargas/Rio de Janeiro] and MBA
in Production Engineering from PUC/RJ [Catholic University of Rio de Janeiro] and post
graduate in Finance Management from FGV/RJ and MBA in Finance from
COPPEAD/UFRJ [Business School of the Federal University of Rio de Janeiro], resident
and domiciled at Av. Epitácio Pessoa, 4446, Bloco 1, apt 1101, in Rio de Janeiro, State of
Rio de Janeiro, bearer of the Identity card no. 067.138.19-8, issued by IFP/RJ and enrolled
in the CPF under number 051.490.757-60 and RODRIGO MAGELA PEREIRA
(substitute member), Brazilian, legally separated, graduate in Economy from Wichita
State University, USA, resident and domiciled at Av. Lineu de Paula Machado, 1000,
Bloco 1, apt. 301, Lagoa, in Rio de Janeiro, State of Rio de Janeiro, bearer of the Identity
card no. 10052944-5, issued by IFP/RJ and enrolled in the CPF under number
027.954.677-71; d) in compliance with the head of article 36 of the Company’s By-Laws,
which sets forth that among the members of the Fiscal Council, one member shall be
elected by holders of minority preferred stocks: CARLOS CESAR MEIRELLES
VIEIRA (effective member), Brazilian, married, lawyer, resident and domiciled at Rua
Politeama de Cima, 25/27, apt. 401, Edif. Aladim, Politeama, Salvador Bahia, bearer of
the Identity card no. 1088, issued by OAB/BA [Brazilian Bar Association – Bahia] and
enrolled in the CPF under number 003.045.577-49 and ELSON ESPEDITO
PANOEIRO (substitute member), Brazilian, married, lawyer, resident and domiciled at
Rua Dona Mariana, 138/701, in Rio de Janeiro, State of Rio de Janeiro, bearer of the
Identity card no. 34565, issued by OAB/RJ [Brazilian Bar Association – Rio de Janeiro]
and enrolled in the CPF under number 040.763.547-53; the representative of the Union
abstained from voting in the election of the members of the Fiscal Council, representatives
of the minority stockholders, holders of common and preferred stocks; (v) To set the
global remuneration to be paid to the managers of Centrais Elétricas Brasileiras S.A. –
ELETROBRÁS, in compliance with the guidelines set forth by the Department of
Coordination and Control of State Owned Companies, provided for in the Official Letter
no. 294/2008/MP/SE/DEST, dated April 28, 2008, and considering the provisions set out
in article 6, item IV of Annex I to the Decree no. 6.081, dated April 12, 2007, reinforced
by Decree no. 6.222 dated October 4, 2007, in three million, two hundred and thirty reais (
R$ 3,230,000.00), for the period between April 2008 and March 2009, such amount to
include monthly fees, Christmas Bonus (13th salary), vacation additional pay, meal ticket,
group life insurance, medical / hospital expenses, complementary pension fund (Fundação
Eletros), funeral grant, profits sharing, cost of living and transfer allowance, in terms of
Decree no. 3.255, on November 19, 1999; (vi) the setting of fees months of members of
the Administrative Council and the holders of the Fiscal Council a tenth of that on average
monthly, perceive the members of the Executive Directors, excluding figures for vacation
additional pay, meal ticket, group life insurance, medical / hospital expenses,
complementary pension fund (Fundação Eletros), funeral grant, profits sharing, cost of
living and transfer allowance. To delegate authority to the Administrative Management
Council to carry out the distribution of the amounts used for the payment of the Board of
Directors remuneration, subject to the fixed global amount, minus the portion destined to
the Administrative Management Council. Closing the deliberations by the Ordinary
Stockholders’ General Meeting and keeping the same stockholders’ attendance, the One
hundred and Fifty First Extraordinary Stockholders’ Meeting was opened, the first item of
the Meeting Agenda put to vote: (i) The representative of the Union voted favorable to the
approval of the conversion into class “B” preferred stocks of credits arising out of the
Compulsory Loan, constituted after the realization of the 3rd conversion (approved by the
142nd Extraordinary Stockholders’ General Meeting held on April 28, 2005), up to
December 31, 2007, recorded in the Financial Statements of ELETROBRÁS for the fiscal
year ended at December 31, 2007 and resulting from law suits, in the amount of two
hundred and two million, three hundred and seventy four thousand, seven hundred and
sixty one reais and seventy five cents ( R$ 202,374,761.75), postponing the change of
Article 6 of the By-laws to an upcoming Stockholders' General Meeting, considering the
period allowed for the other stockholders of ELETROBRÁS to exercise their pre-emption
right; and (ii) to set the period of 30 days for the company’s stockholders to exercise their
pre-emption right (May 5 to June 3, 2008) for the subscription of the capital increase, in
compliance with the legislation currently in force. The funds represented by Mr. PAULO
ROBERTO ESTEVES, according to the protocol filed at the Company, approved in the
AGO [Ordinary General Meeting]: by majority vote, the items 1, 3, 4 and 5, and favorable
to item (ii); Also granting a favorable vote in items 1 and 2 of the Extraordinary General
Meting. Mrs. TÂNIA VERA DA SILVA ARAUJO VICENTE, representative of the
Furnas Retired Employees Association – APÓS-FURNAS presented a contrary vote to the
approval of the Financial Statements for the fiscal year ended at December 31, 2007; the
vote full copy filed with the Company's General Secretary and also voted against item 2 of
the Meeting Agenda. Mr. BRUNO BARRETO MACHADO, representative of the funds
Tweed LLC, Bransfiel LLC and Hatterras LLC abstained from voting all the items of both
General Meetings. The representative of the Eletrobrás Employees Association – AEEL,
Mrs. ALBERTINA SOLINO EVELIN, voted in agreement with the Union vote in the
Ordinary General Meeting. Mr. ANDRÉ CARVALHO TEIXEIRA, representative of
BNDES Participações S.A. - BNDESPAR voted in agreement with the Union vote in
items 1 and 2 of the Ordinary General Meeting and abstained from voting the other items.
In respect of the Extraordinary General Meeting, BNDESPAR voted favorable to
conversion of the Compulsory Loan credits and waived the right to subscribe the Class
“B” preferred stocks. Mr. DARMI RIBEIRO DA SILVA, representative of the Pension
Fund of the Employees of Banco do Brasil – PREVI, in the Ordinary General Meeting
voted in favor of items 1 and 2 and abstained from voting item 5. In item 4, the fund
nominated a Fiscal Counselor and the respective substitute member who were elected and
nominated a member of the Administrative Management Council who was not elected. In
the Extraordinary General Meeting, PREVI abstained from voting. Nothing else to be
deliberated, the President closed the Forty Eighth Ordinary Stockholders’ Meeting and the
One Hundred and Fifty One Extraordinary Stockholders’ General Meeting of CENTRAIS
ELÉTRICAS BRASILEIRAS S.A. – ELETROBRÁS, of which, I, Afrânio de Alencar
Matos Filho, Secretary, caused these Minutes to be drawn up, which after read and found
to be in compliance, was duly signed by the President and by all present stockholders
holding common stocks with voting right, taking certified copies of the minutes to legal
effects. The Book of Attendance was signed by he stockholders (undersigned)
ASTROGILDO FRAGUGLIA QUENTAL – President, KÁTIA APARECIDA ZANETTI
DE LIMA, ANDRÉ CARVALHO TEIXEIRA, DARMI RIBEIRO DA SILVA, BRUNO
BARRETO MACHADO, TÂNIA VERA DA SILVA ARAUJO VICENTE,
ALBERTINA SOLINO EVELIN, RAFAEL RODRIGUES ALVES DA ROCHA,
RODRIGO MONTEIRO AUGUSTO, ÉLSON DE SIQUEIRA CAMPELLO, PAULO
ROBERTO ESTEVES and CAMILLA BARROS DONATI. Acting as Secretary of the
Forty Eighth Ordinary Stockholders’ Meeting and the One Hundred and Fifty One
Extraordinary Stockholders’ General Meeting of CENTRAIS ELÉTRICAS
BRASILEIRAS S.A. – ELETROBRÁS, I declare that the above text is a full transcription
of the minutes recorded in the 5th Minutes Book of the General Meetings of Centrais
Elétricas Brasileiras – ELETROBRÁS, on page 348 and subsequent pages


                                Brasília, April 30, 2008.



                     AFRÂNIO DE ALENCAR MATOS FILHO
                                 Secretary


 BOARD OF TRADE OF THE FEDERAL DISTRICT
     I ATTEST the document on: June 5, 2008
          Under number: 20080401767
            Protocol: 08/040176-7
               Signed: [illegible]
        ANTONIO CELSON G. MENDES
           GENERAL SECRETARY

[This document contains stamps of the BOARD OF TRADE OF THE FEDERAL
DISTRICT and initials]

				
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