Comgás reported financial results for the first quarter of 2009. Net revenue grew 16.2% year-over-year to R$980 million. Dividends of R$199.9 million were declared for 2008, to be paid in three installments during 2009. The gas distribution network expanded 452 km over the last 12 months to a total of 5,801 km. Residential gas connections increased by over 89 thousand over the last 12 months. Overall gas sales volumes declined 32.2% compared to the first quarter of 2008 due to decreases in industrial, thermal generation, and natural gas vehicle (NGV) segments.

1. 111
COMPANHIA DE GÁS
DE SÃO PAULO
Financial Results
- 1st quarter 2009 -

2. 222
Highlights: 1Q09
 Net Revenue of R$ 980 million in 1Q09, growth of 16.2% related to 1Q08;
 R$ 199,9 million in dividends declared to 2009, related to 2008 results, to be paid in 3 installments during 2009 fiscal
year;
 Network extension increase d in 452 Km in 12 months, reaching 5.801 Km of extension;
 Over 89 thousand residential units added (UDAs) in 12 months, reflecting the aim focus of the Company in the
expansion of residential market;

3. 333
Comgás: Sales per Segment
In thousand Cu.M.
* Excluding thermal generation
1Q09 4Q08 1Q08 D 1Q09/4Q08 D 1Q09/1Q08
29,212 35,999 27,571 Residential -18.9% 6.0%
21,806 25,429 23,375 Commercial -14.2% -6.7%
702,347 882,194 965,472 Industrial -20.4% -27.3%
18,250 71,459 133,988 Thermal generation -74.5% -86.4%
58,766 73,408 77,419 Cogeneration -19.9% -24.1%
93,866 124,356 135,067 NGV -24.5% -30.5%
924,247 1,212,845 1,362,892 -23.8% -32.2%
10.2 12.4 13.5 MM Cu.M./day*

4. 444
Comgás: Meters by Segments
* UDAs (Householders).
Mar/09 Dec/08 Mar/08 D Mar09 / Dec08 D Mar09 / Mar08
635,104 620,191 574,435 Residential 2.4% 10.6%
789,751 765,103 700,782 Number of UDAs * 3.2% 12.7%
8,911 8,885 8,567 Commercial 0.3% 4.0%
993 1,004 992 Industrial -1.1% 0.1%
2 2 2 Thermal Generation 0.0% 0.0%
20 20 16 Cogeneration 0.0% 25.0%
392 401 391 NGV -2.2% 0.3%
645,422 630,503 584,403 2.4% 10.4%

5. 555
70.8%
76.0%
2.0%
3.2%
1.7%
2.4%
9.9%
10.2%5.7%
6.4%
9.8% 2.0%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
1Q08 1Q09
Thermal Generation
Cogeneration
NGV
Commercial
Residential
Industrial
Volume per Segment
MM Cu.M.
1,363 924
- 32.2%

6. 666
71.8% 73.5%
7.9%
8.1%
3.7%
4.1%
8.5%
8.6%
4.3%
5.1%
3.8%
0.5%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
1Q08 1Q09
Thermal Generation
Cogeneration
NGV
Commercial
Residential
Industrial
Gross Revenue per Segment
R$ thousand+ 19.3%
1,040,582 1,241,614

7. 777
65.2% 66.3%
17.4%
20.1%
7.0%
7.7%
5.7%
3.7%3.2% 2.1%
1.5%
0.1%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
1Q08 1Q09
Thermal Generation
Cogeneration
NGV
Commercial
Residential
Industrial
Margin per Segment
R$ thousand
315,371 306,022
- 3.0%

8. 888
Comgás: Financial Results
R$ thousand
1Q09 4Q08 1Q08 D 1Q09/4Q08 D 1Q09/1Q08
979,593 1,054,801 842,765 Net Sales Revenue -7.1% 16.2%
-683,959 -728,483 -536,694 Cost of Goods Sold and/or Services Rendered -6.1% 27.4%
295,634 326,318 306,071 Gross Income -9.4% -3.4%
-112,431 -135,915 -96,155 Selling, General and Administrative Expenses -17.3% 16.9%
-38,253 -35,400 -31,616 Depreciation and Amortization 8.1% 21.0%
-37,055 -34,874 -27,524 Financial Results 6.3% 34.6%
146,148 155,529 182,392 Operating Income -6.0% -19.9%
-16,120 -14,902 -14,440 Non Operating Result 8.2% 11.6%
95,805 102,806 119,890 Net Income -6.8% -20.1%
221,456 225,803 241,532 EBITDA -1.9% -8.3%

9. 999
Comgás: Financial Indicators
Note:
Results achieved during the period were annualized;
1T09 4T08 1T08
Equity per share ($) 9,2 9,5 7,3
Earnings per share ($) 0,8 0,9 1,0
Net Debt per Equity (%) 147,1% 126,5% 145,2%
Current Ratio(x) 0,7 0,8 0,6
Gross Margin (%) 30,2% 30,9% 36,3%
Net Margin (%) 9,8% 9,7% 14,2%
EBITDA Margin (%) 22,6% 21,4% 28,7%
Return on Assets (%) 9,8% 10,2% 14,8%
Return on Equity (%) 34,7% 36,2% 54,7%

10. 101010
R$ Million
Dividends Paid
(c) Intermediate dividends over retained earnings
(b) Dividends referring to previous year
(a) Interpolate dividends over the current year result
10% 77%95%26%15%17% 75% 53%
153(b)
100(c)
50(a)
152(b)
178(a)
120(b)
59,5(b)
46(a)
59,4(b)
49(a)
150(b)
62,7(b)
62,7(b)
PAYOUT
100(b)
50(b)
49,9(b)
Declared to be
paid in 30/06
Declared to be
paid in 31/08
Declared to be
paid in 30/11
100(b)
50(b)
49,9(b)
.....
.....
.....

11. 111111
Investments – 2000 to 1Q09
Over R$ 2.8 billion invested in the period
Network Extension:
Mar/08: 5,349 km
Mar/09: 5,801 km
Main Projects:
Campinas; Butantã; Santos;
São Bernardo dos Campos;
São José dos Campos;
Pirituba; Jabaquara.
CAPEX
R$ MM
1Q08
90
1Q09

12. 121212
Investor Relations
Companhia de Gás de São Paulo – COMGÁS
www.comgas.com.br/en/investors/
Roberto Lage
CFO and IRO
Renata Oliva
Investor Relations
Rua Olimpíadas, nº 205, 10º andar - Vila Olímpia - CEP 04551-000 / São Paulo - SP - Brazil