AES Tiete Reached Net Income of R$780.2 Million in 2009, Proposed to Be Fully Distributed as Dividends

SAO PAULO, March 12 /PRNewswire-FirstCall/ -- AES Tiete S.A. (Bovespa: GETI3 and GETI4; OTC: AESAY and AESYY) today announced its results for the year of 2009.

Comments by Mr. Rinaldo Pecchio – Chief Financial Officer and Investor Relations Officer:

In 2009, AES Tiete's EBITDA was R$1,260.5 million, in line with 2008, while net income reached R$780.2 million, representing a 12.7% increase year-over-year. The price of energy sold through the bilateral contract had its annual adjustment in July by the IGP-M, moving up from R$149.72/MWh to R$152.00/MWh. In 4Q09, non-recurring events led to an increase in operating costs and expenses, which had an impact on the Company's earnings. If we take into consideration the performance without the effect of these events, EBITDA would have been R$1,314.4 million with net income of R$816.2million, representing increases of 4.8% and 17.9% for FY 2009, respectively.

Since 2006, AES Tiete has adopted the practice of distributing the totality of its net income as compensation to its shareholders in the form of dividends and interest on equity. During 2009, R$635.9 million was anticipated as dividends related to earnings recorded over the first nine months of the year. Management will propose the full distribution of 4Q09 net income at the General Shareholders' Meeting scheduled for April 30, 2010.

The presentation slides will be available for viewing and downloading from the website www.aestiete.com.br/ri

The conference audio also will be transmitted live on the Internet, at the same site, where it will be available after the event.

SOURCE AES Tiete