Comgás reported its third quarter 2010 results. Key highlights included: - Sales volume grew 16.2% year-over-year to 3.6 billion cubic meters. - The number of meters grew 10.2% to 746,904. - R$418.4 million had been declared in dividends and interest on equity to be paid in 2010. - A long-term loan of €200 million from the European Investment Bank was received, with €100 million already disbursed.

1. 111
COMPANHIA DE GÁS DE SÃO PAULO
Results Presentation
3rd Quarter 2010

2. 222
Comgás adopted International Financial Reporting Standards (IFRS) beginning in 2Q10;
Continuous growth in the residential segment: over 76 thousand new residential connections since
the beginning of the year;
The number of meters grew by 10.2% between 9M09 and 9M10 to reach 746,904 in September
2010;
Sales volume reached 3,622.7 million M3, an 16.2% increase year on year;
As of September 30, a total of R$ 418.4 million had been declared in dividends and interest on
equity, to be paid during 2010;
First tranche of € 100 million, of a long-term loan of € 200 million granted by the European
Investment Bank (EIB), was already paid in full, in which € 68.9 million (R$ 155 million) was disbursed
in June, and the remaining € 31.1 million (R$ 69.6 million) was disbursed in September.
Highlights: September 2010

3. 333
CONTRACTS
Natural Gas Supply
Firm GSA: Comgás buys natural gas from Petrobras and distributes to existing markets receiving its distribution margin ,the Natural Gas couldn’t be
interrupted;
Firm Flexible Agreement: under this type of agreement Petrobras supplies natural gas or indemnifies clients for the additional costs incurred due
to the consumption of an alternative fuel, Gas supply may be interrupted at the discretion of Petrobras ,but with no risk of supply cuts for Comgás,
consumers. Petrobras will also bear the cost of the financial impacts incurred by Comgás and the clients in question;
Interruptible Agreement: under this type of agreement. Comgás may request a given volume of gas and Petrobras may or may not comply with
this request. Once the request has been complied with. However supply may only be interrupted in order to meet demand for the dispatch of
thermal power.
Contracts TCQ Firm Contract Firm of Energy Interruptible Contract Auction
Contract Models Firm Firm Firm of Energy Interruptible Firm of Short Term
Gas Source Bolivian Not determinated Not determinated Not determinated
Exceeding contracts of PB with
others distributor / thermal
power plants
DCQ
End of Contract Jun/19 Dec/13 Dec/12 Dec/10 Nov/10
Commodity + Transportation
Fixed Charge +
Variable Charge
Fixed Charge +
Variable Charge
Fixed Charge +
Variable Charge
Transport: annual adjustment
according to USA Inflation (CPI)
Fixed Charge: annual adjusted
by IGP-M
Fixed Charge: annual adjusted
by IGP-M
Fixed Charge: annual adjusted
by IGP-M
Commodity: quarterly adjusted
based on Oil Basket (Brent)
+ Exchange Rate
Variable Charge: quarterly
adjusted based on Oil Basket
Variable Charge: quarterly
adjusted based on Oil Basket
Variable Charge: quarterly
adjusted based on Oil Basket
Price
According to the Auction
Winner
8.75 MMm3
/day until may/2011
8.10 MMm3
/day until jun/2019
4.15 MMm³/day 1.0 MMm³/day 0 to 1.5 MMm³/day 2.5 MMm³/day

4. 444
Volume per Segment
In thousand M3
* Excluding Thermal Generation
46,958 42,090 41,409 11.57% 13.40% 119,893 106,770 12.29%
26,396 25,240 23,774 4.58% 11.03% 74,490 69,005 7.95%
946,874 937,125 914,757 1.04% 3.51% 2,780,285 2,415,280 15.11%
117,238 35,088 101 N.A 168,723 20,584
91,217 76,686 93,649 18.95% -2.60% 238,711 231,325 3.19%
76,594 82,279 88,784 -6.91% -13.73% 240,622 275,852 -12.77%
1,305,277 1,198,508 1,162,474 8.91% 12.28% 3,622,724 3,118,816 16.16%
12.9 12.8 12.6 1.01% 2.21% 12.7 11.3 11.48%
COGENERATION
NGV
RESIDENTIAL
COMMERCIAL
INDUSTRIAL
THERMAL GENERATION
3Q10
9M10/9M09
9M099M102Q10
∆
3Q10/2Q10
3Q09
3Q10/3Q09
Mi m3/day*
∆ ∆
N.A N.A.

5. 555
* UDAs (Householders)
Meters per Segment
735,967 718,743 667,151 2.40% 10.31%
945,327 910,379 834,303 3.84% 13.31%
9,568 9,425 9,123 1.52% 4.88%
974 971 988 0.31% -1.42%
2 2 2 -
20 20 22 -9.09%
373 375 375 -0.53% -0.53%
746,904 729,536 677,661 2.38% 10.22%
sep10/jun10 sep10/sep09
sep/10 jun/10 sep/09
RESIDENTIAL
NGV
COGENERATION
THERMAL GENERATION
INDUSTRIAL
COMMERCIAL
UDAs*
∆ ∆ ∆
-
-

6. 666
3.3%
2.1%
76.7%
4.7%
6.6%
6.6%
3.4%
2.2%
77.4%
0.7%
7.4%
8.8%
RESIDENTIAL
COMMERCIAL
INDUSTRIAL
THERMAL GENERATION
COGENERATION
NGV
Volume per Segment
9M10
In Mi m3
9M09
3,119 3,623
16.2%

7. 777
9.2%
4.0%
74.1%
0.2%
4.7%
7.8% RESIDENTIAL
COMMERCIAL
INDUSTRIAL
THERMAL GENERATION
COGENERATION
NGV
9.7%
4.0%
74.7%
1.4%
4.3%
5.8%
Gross Revenue per Segment
In R$ Thousand
9M109M09
3,697,496 3,618,467
-2.1%

8. 888
19.1%
6.8%
66.7%
0.5% 2.7%
4.2%
16.7%
6.4%
67.4%
3.7% 5.9% RESIDENTIAL
COMMERCIAL
INDUSTRIAL
THERMAL GENERATION
COGENERATION
NGV
Margin per Segment
-8.28%
9M109M09
1,247,578 1,144,322
In R$ Thousand

9. 999
Financial Results
R$,Thousand
1,084,078 1,020,993 1,019,461 6.18% 6.34% 3,045,127 3,083,459 -1.24%
-642,142 -633,792 -601,108 1.32% 6.83% -1,898,412 -1,827,544 3.88%
441,936 387,201 418,353 14.14% 5.64% 1,146,715 1,255,915 -8.69%
-85,822 -74,993 -72,509 14.44% 18.36% -229,056 -211,467 8.32%
356,114 312,209 345,844 14.06% 2.97% 917,659 1,044,448 -12.14%
-52,392 -52,383 -46,018 0.02% 13.85% -155,726 -128,097 21.57%
-37,032 -30,526 -44,614 21.31% 16.99% -100,690 -136,619 -26.30%
-4,969 6 0 - -4,963 -26,456 -81.24%
261,721 229,305 255,212 -14.14% 2.55% 656,280 753,276 -12.88%
188,335 151,990 169,210 23.91% 11.30% 452,658 514,065 -11.95%
-102,147 -67,677 -111,212 50.93% -8.15% -186,797 -375,604 -50.27%
255,966 244,634 229,510 4.63% 11.53% 731,511 644,850 13.44%
121,536 108,583 96,577 11.93% 25.84% 332,511 272,061 22.22%NET INCOME
NET INCOME
EBTIDA
Net Sales Revenue
Cost of Goods Sold and/or Services Rendered
Selling General and Adm. Expenses
9M10/9M09
Other operating Result
3Q10 2Q10 3Q09 9M10 9M09
Depreciation and Amortization
Financial Results
EBTIDA
OPERATING RESULT
GROSS RESULT
Current Account
-
D
3Q10/2Q10
D
3Q10/3Q09
D D
According to the last accountability legislation (unaudited figures)
In R$ Thousand

10. 101010
Comgás: Financial Indicators
11.7 10.5 10.2 11.7 10.2
1.6 1.3 1.4 3.8 4.3
1.0 1.1 1.3 1.0 1.3
1.0 1.1 1.2 1.3 1.1
0.8 0.7 0.6 0.8 0.6
40.8% 37.9% 41.0% 37.7% 40.7%
17.4% 14.9% 16.6% 14.9% 16.7%
32.8% 30.6% 33.9% 30.1% 33.9%
19.2% 15.8% 18.2% 15.4% 18.5%
53.8% 48.4% 55.3% 43.1% 56.0%
33.6% 33.2% 31.5% 33.5% 29.3%
12.0% 11.3% 10.1% 11.6% 9.3%
25.2% 25.4% 23.9% 25.5% 22.0%
(%)
($)
(%)
(x)
(%)
(x)
3Q10 2Q10 3Q09 9M10 9M09
According to the last accountability legislation (unaudited figures)
Note: Results achieved for the period were annualized
Equity per Share ($)
Earnings per Share
Net Debt per Equity (x)
Net Debt per EBITDA
Current Ratio
Gross Margin (%)
Net Margin
EBITDA Margin
Return on Assets
Return on Equity (%)
EBITDA Margin (%)
Gross Margin (%)
Net Margin (%)

11. 111111
278
219
182
85 104
30
19
17
35
111
de 09/11 até
09/12
até 09/13 até 09/14 até 09/15 até 09/16
Em moeda estrangeira Em moeda local
367 385
1,163 1,180
jun/10 set/10
Indebtedness Structure
In R$ millionTotalIndebtednessLongtermDebts-Aging In R$ million
BNDES
Outros
Indebtedness Composition
75%
24%
76%
1,571
1,425 1,419
1,352 1,360
1.14
1.12
1.42
1.08
0.95
1.28
1.09
1.02
1.08
0.97
3Q09 4Q09 1Q10 2Q10 3Q10
Net Debt Net Debt / EBITDA Net Debt/ Equity
25%
From 09/11
until 09/12
until 09/13 until 09/14 until 09/15 until 09/16
BNDES
72%
EIB
15%
Others
13%
Curto Prazo Longo Prazo

12. 121212
528 469
264
153
29
12 -55
-157
D = 61
D = 204
D = 17
R$Million
D = 123
D = 68
D = 111
Comgás: Regulatory Current Account Balance Evolution
Balance of Gas bill receivables: Cash Effect
dec/08 dec/09sept/09mar/09 mar/10
D = 102
jun/09 jun/10 sep/10

13. 131313
Total Shareholder Remuneration
2010 YEAR
Dividends also declared :
R$ 28.1 million related to 2009 results paid on May 31, 2010;
R$ 286.9 million related to the retained earnings of the previous years to be paid in 3 installments in 2010: R$ 76.9 million on June 30th; R$ 110.0
million on August 31; and R$ 100.0 million on November 30.
R$ 50 million related to 2009 retained earnings to be paid on December 17, 2010.
Interest on Equity also declared:
R$ 34.4 million from 2010 results, paid on July 30, 2010;
R$ 9.5 million from 2010 results, paid on September 30, 2010;
R$ 9.5 million from 2010 results, to be paid on November 30, 2010.
11 16 27 25
303
330 334
275 268
418
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
17% 15%
26%
10%
95%
77% 75%
53%
73%
9M10
100
28.1
76.9
110
34.4
9,5
9.5
50
In R$ million
---- PAYOUT

14. 141414
2.5 2.6 2.9
3.3 3.6 3.9
4.5 4.9 5.1
5.7
6.2
6.7
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
100
229
200
230
276
474
426
397 403 406
287
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 9M10
Investments
Over R$ 3,4 billion invested in the period
NOTE: UDA’s Added (in 12 months): 111,024
187
CAPEX in R$ million
9M09
9M10
*Since 2009 values are in IFRS
Taubaté
Campinas
Americana
Guarulhos
Santos
Jundiaí
Santo,André
Piracicaba
Hortolândia
290
Network Extension (in thousand):
Sep/09: 6,098 Km
Sep/10: 6,708 Km
D: 610 Km
Main Projects: New Projects:

15. 151515
The forward-looking statements in this report related to
the outlook for the business, estimated financial and
operating results and growth prospects of COMGAS are
merely projections and, as such, are based exclusively on
management expectations regarding future performance.
These expectations depend substantially on market
conditions and the performance of the Brazilian economy,
the business sector and the international markets, and
are therefore subject to change without prior notice.

16. 161616
Investor Relations
investidores@comgas.com.br
www.comgas.com.br/en/investors
ROBERTO LAGE
CFO and
IRO
PAULO POLEZI
Treasury and
Investor Relations
RENATA OLIVA
Investor Relations
Rua Olimpíadas nº 205 10º floor – Vila Olímpia – CEP 04551-000 / São Paulo – SP -Brazil