SECURITIES AND EXCHANGE COMMISSION
CEP 04547-005 - Vila Olímpia, São Paulo – SP
Federative Republic of Brazil
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SUMMARY OF RESOLUTIONS TAKEN AT THE 116th BOARD OF DIRECTORS MEETING
CPFL Energia informs its shareholders and the market in general that at the 116th Board of Directors Meeting, held on February 12, 2007, the following matters were resolved:
| I. |
Approval and vote recommendation: Financial Statements and allocation of the net income of CPFL Energia and subsidiaries. It is important to highlight that the declaration of dividends for the second half of 2007 will be announced to the
market on February 28, 2008, after the Bovespa closes, jointly with the announcement of 2007 results. On this date, the Company will announce: the total amount of dividends in reais, the price per share in reais and the date of the shareholding
position. The payment date will be defined by the Company and announced to the market at an opportune time; |
| II. |
Approval and vote recommendation: indirect financing with BNDES/FINEM – a complement of the hiring by CPFL Paulista, CPFL Piratininga and RGE, and complement of the guarantee posted by CPFL Energia; |
| III. |
Approval and vote recommendation: renegotiation of the debt with Banco do Brasil (Resolution 2770/BACEN) – renewal of the raising of funds by CPFL Energia, CPFL Paulista and CPFL Geração and the posting of guarantees by CPFL
Energia; |
| IV. |
Approval and vote recommendation: creation of the position of Vice-President of Administration and amendment of the bylaws of CPFL Energia and subsidiaries; and |
| V. |
Other issues unrelated to CVM Instruction 358/2002. |
São Paulo, February 27, 2008.
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CPFL ENERGIA S.A.
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By: | /S/
JOSÉ ANTONIO DE ALMEIDA FILIPPO
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| Name: Title: |
José Antonio de Almeida Filippo
Chief Financial Officer and Head of Investor Relations
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This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.