Citi´s 17th Annual Latin America Conference*

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2. Summary Energy market overviewCPFL Energia Highlights and Results 2 3. Brazilian market has 64 distributions companiesMarket Share1 (%)Distribution Business 2007CPFL Energia 13%Distributors (#)64Brasiliana Energia12% Clients (million) 61 Cemig9% Distributed Energy (TWh)Neoenergia8%376.9Copel 7% EdB 6%Market Breakdown Celesc5% The 5 largest groups have 50% of market-share Ashmore Energy4% State-owned companies: 34%Energisa2% Private Company: 66%Others35%Spreading proposes consolidation opportunities331) ANEEL Ref. 1Q08 annualized (Recalculation of CPFLs participation) 4. Brazilian market has 1,695 hydroelectric plants. The public sectorconcentrates 70% of the assets Market Share (%)Generation Business 1Q08 Chesf 10%Hydroelectric plants (#)1,695 Furnas 9%Eletronorte9%Installed Capacity (MW)108,852Cesp 7% Itaipu7%Cemig6%Market BreakdownTractebel 6% Copel4% The 6 largest groups have 50% Petrobrs4% of the market AES Tiet3% State-owned companies: 70%Duke 2% Private Company: 30% CPFL Energia2%Others 31% 4th largest private generation company in Brazil44 Source: Aneel last information availableMarket breakdown: Acende Brasil 5. Summary Energy market overviewCPFL Energia Highlights and Results 5 6. CPFL Energia Highlights Brazilians largest player in distribution and commercialization businesses Energy market is concentrated in the most developed regions of Brazil (South/Southeast) CPFL is listed in the Novo Mercado in Bovespa and ADR level III in NYSE Differentiated Dividend Policy: payment of 50% of the net income on a semi-annual basis 100% hydraulic generation portfolio, with a strong growth in the installed capacity in the last few years Long term generation and distribution concessions 5 distribution companies acquisition, 9 SPPs and RGEs stake (33%), Foz do Chapec HPPs stake (11%) and Lajeado HPPs stake (7%) in the last 2 years, with a R$ 1.1 billion investment First company in the Brazilian electric sector to negotiate carbon credits, through a run-of-stream HPP Constitution of CPFL Bioenergia, for investments in energy generation from biomass 6 7. 7 1) Includes 0.2% of others 2) Aneel (estimated) Note: CPFL Jaguarina will be maintened out of operation 8. CPFL Energias Investment Case join the current portfolio growth with acquisitionopportunities Operational efficiency focus Small distribution companies acquisition, strategically located Distribution Large distribution companies acquisition Cooperatives acquisition Private networks incorporation Projects conclusion SPPs repowering, construction and acquisition Generation Energy cogeneration through biomass Green field projects - Auctions Increasing in Value Added Services (VAS) and new products and services Commercialization New opportunities - clients between 0.5 and 3.0 MW, supplied by cogeneration or SPPs 8 9. Focus on capturing synergies and optimization of levels of Group delinquencies DISTRIBUTION Delinquency1 (%) ConsolidatedDelinquency Recovery R$ million4Q07 4Q08Amount sent to SPC (in R$) Amount recovered (in R$)91) Receivables past due > 30 days - % of total Revenues outstanding as at December 31 2008 2) Excluding CPFL Jaguarina 10. Strong growth in the installed capacity and long term concessions in the generation venturesGENERATION Installed Capacity (MW) 1%26,7Assured Energy (MWmedium)9.3%2,202 %Concession Term48.21,737 1,738 1,588 % 26,91,072 7.6%812 85491540.2% 861 8621,093 800434 472525 57120032004 20052006 200732008(e) 2009(e)2010(e)SPPs CPFL GeraoMonte ClaroBarra GrandeCampos Novos Castro Alves Foz do Chapec2027 20362036 2035 20362036 Serra da Mesa1CPFL Sul2 Lajeado14 de Julho20282032 2036SPPs CPFL Jaguarina32015(1) CPFL has the right of 51.54% of the Assured Energy until 2028(2) Hydroelectric projects with installed capacity