Business Portfolio Adding Value to Investors Luiz Fernando Rolla CFO October, 2008

Disclaimer Some statements in this presentation are forward-looking statements within the meaning of the US Securities Acts and are subject to risks and uncertainties. Forward looking statements are forecasts that may differ from the final numbers and are not under our control. For a discussion of the risks and uncertainties as they relate to the Company, please refer to our Form 20F of 2007, and in particular Item 3, containing “Basic Information – Risk Factors”. All figures are in BR GAAP. DISCLAIMER

Cemig focuses on sustainable strategic expansion in growing Brazilian and international energy markets Power Industry - Largest electricity distributor ( transport) - Third largest power generation group - Third largest power transmission group Finances (2Q08 – Last 12 month) - Total assets: US$ 14.9 billion - Stockholders’ equity: US$ 5.9 billion - Net revenue :US$ 6.7 billion - EBITDA: US$ 2.6 billion - Net Income: US$ 1.2 billion

Cemig Corporate Totals – 1H08 Business porfolio seeks low risk exposure and ensures proper return – most revenues are inflation protected Power Generation - 10 companies - Revenue R$ 1.2 billion - Net income R$ 424 million - Ebitda R$ 817 million - Sales Volume 15,281 GWh 76% free consumers 24% distributors -7 % of Brazilian market share Electricity Distribution - 2 companies - Revenue R$ 6.2 billion 88% captive market 12% grid usage (free consumers) - Net income R$ 552 million - Ebitda R$ 1.0 billion - Sales Volume 22,452 GWh -12 % of Brazilian market share Others - 3 companies - Revenue R$ 75 million - Net income R$ 34 million - Ebitda R$ 50 million Power Transmission - 5 companies - Revenue R$ 185 million - Net Income R$ 60 million - Ebitda R$ 101 million - 7 % of Brazilian market share Gas Distribution -1 company - Revenue R$189 million - Net income R$21 million - Ebitda R$27 million - Sales Volume 450 million m % of Brazilian market share - Sixth largest in Brazil Holding Co. - Revenue R$ 249 million - Net income (R$ 71) million - Ebitda (R$ 66 million)

Generation by Source During last four years +1,000 MW power generation capacity added and 71,000 km of power network Power Generation Capacity

Long Term Strategic Plan addresses sustainable growth… Broadening CEMIG's area of activity, focus on electric industry - Growth within Brazil's geographical area - First steps towards international investments - Expansion in line with Brazilian regulatory limits and sustainable growth - Investments limited to power industry and gas distribution related business Addressing shareholders’ long-term interests: - Dividend policy: minimum 50% of net income payout and extraordinary dividends, provided cash availability - Corporate governance focused on transparency and respect of minority shareholders’ interests Incorporation of our goals and commitments in Bylaws to secure stability and company's long- term planning - Capex limited to 40% of EBITDA - Debt limited to 2x EBITDA (2.5 x with acquisitions) - Debt limited to 40% of Total Capitalization (50% with acquisitions)

Investment policy to guarantee sustainable growth… Pillars of our activity: -Focus on electricity sector and related activities - Profitability: return compatible with each business risks - Partnerships with strategic investors: corporate governance Growth through green field projects, long-term vision - Opportunities in power generation and transmission Acquisitions, drivers for short-term growth Investment Criteria Selection: - Investments with return that add value to shareholders - Continuous technological and operational improvement - Best management practices Guarantees to ensure profitability: - Investments limited to power generation, transmission and distribution, and gas projects that offer proper rates of return for each industry segment, but higher than the level projected in the Strategic Plan, with the exception of legal obligations. - Operational expenses and revenues of electricity distribution companies, must be kept aligned to the tariff adjustments and reviews.

Net income (R$ million) Dividends (R$ Million) Dividend Yield (%) Dividend pay-out (% of Net income) (1) Ebitda (1) Financial highlights ( 1 ) Last Twelve Months (R$ Million) (%) Ebitda margin

R$/million (1) Net Debt = Total Debt – Available – Regulatory Asset (RTE/BNDES) (2) As defined in loans contracts entered into with ItaúBBA Main Indexes Consolidated Debt June 30, 2008 Average real cost (%) Average Tenor: 4.5 years Maturity Schedule to 2031 (R $Million) Financial discipline to lower debt cost and reduce FX exposure

Results reflect long-term vision - Company's structure oriented towards electricity sector consolidation - Operational excellence aligned with costs reduction - Investment criteria defined by Strategic Plan to add value - Risk management to ensure reliable processes - Corporate governance as a corporate value constantly evolving - Financial management to improve credit quality and cost reduction - Sustainability and governance contained in Company’s bylaws - Committed to provide investors’ return on investment

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