1. 111
COMPANHIA DE GÁS DE SÃO PAULO
COMGÁS
Financial Results
- September 2009 -

2. 222
Highlights: September 2009
Consistent increase in the residential market: over 89 thousand residential units added in the last
12 months;
Investment Program Continuity: R$ 290 MM invested in 2009;
Short-Term agreement with Petrobrás through an auction in which Comgás contracted quantities
varying from 1.5 to 2.0 MM Cu.M./day between May 2009 to March 2010.

3. Contracts:
Natural Gas Supply
Contracts TCQ BG Firm Contract Firm of Energy Interruptible Contract Auction
Contract Models Firm Firm Firm Firm of Energy Interruptible Firm of Short Term
Gas Source Bolivian Bolivian Not determinated Not determinated Not determinated
Exceeding contracts of PB with
others distributor / thermal
power plants
DCQ
End of Contract Jun/19 May/11 Dec/12 Dec/12 Dec/10 Mar/10
Commodity + Transportation
Fixed Charge +
Variable Charge
Fixed Charge +
Variable Charge
Fixed Charge +
Variable Charge
Fixed Charge +
Variable Charge
Transport: annual adjustment
according to USA Inflation (CPI)
Fixed Charge: annual adjustment
according to USA Inflation (PPI)
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: monthly
adjusted based on oil basket
(including diesel)
+ 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
0.65 MMm³/day 3.5 MMm³/day 1.0 MMm³/day 0 to 1.5 MMm³/day 1.8 MMm³/day

4. 444
Type of Contracts:
Natural Gas Supply
 For the Firm GSA, the business model is the traditional one: Comgás buys natural gas from Petrobras and distributes to existing
markets receiving its distribution margin. Natural Gas distribution couldn’t be interrupted.
Firm Flexible Agreement for the Purchase and Sale of Natural Gas: 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. Given this distinction, the
number of clients involved is restricted and their chief characteristic is their fuel flexibility (bi-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 for the Purchase and Sale of Natural Gas: 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.
General Provisions Contract: establishes the operational and legal rules to be applied to any and all agreements entered
between Comgás and Petrobras.

5. 555
Comgás: Sales per Segment
In thousand Cu. M.
* Excluding Thermal Generation
3Q09 2Q09 3Q08
D
3Q09/2Q09
D
3Q09/3Q08
9M09 9M08
D
9M09/9M08
41,409 36,150 38,334 14.5% 8.0% Residential 106,770 99,946 6.8%
23,774 23,423 26,087 1.5% -8.9% Commercial 69,005 74,204 -7.0%
914,757 798,173 1,003,070 14.6% -8.8% Industrial 2,415,280 2,972,836 -18.8%
101 2,232 55,439 -95.5% -99.8% Thermal Generation 20,584 261,841 -92.1%
93,649 78,909 75,028 18.7% 24.8% Cogeneration 231,325 230,994 0.1%
88,784 93,202 127,288 -4.7% -30.2% NGV 275,852 400,369 -31.1%
1,162,474 1,032,089 1,325,246 12.6% -12.3% 3,118,816 4,040,190 -22.8%
12.6 11.3 13.8 MMm
3
/day* 11.3 13.8

6. 666
Comgás: Meters by Segment
* UDAs (Householders)
Sep/09 Jun/09 Sep/08
D
Sep09/Jun09
D
Sep09/Sep08
667,151 651,911 604,430 Residential 2.3% 10.4%
834,303 816,212 745,144 Number of UDAs* 2.2% 12.0%
9,123 9,002 8,755 Commercial 1.3% 4.2%
988 991 1,011 Industrial -0.3% -2.3%
2 2 2 Thermal Generation 0.0% 0.0%
22 22 19 Cogeneration 0.0% 15.8%
375 383 403 NGV -2.1% -6.9%
677,661 662,311 614,620 2.3% 10.3%

7. 777
Volumes per Segment
MM Cu.M.
4,040 3,119-22.8%
73.6% 77.4%
2.5%
3.4%1.8%
2.2%9.9%
8.8%
5.7%
7.4%
6.5% 0.7%
9M08 9M09
Thermal Generation
Cogeneration
NGV
Commercial
Residential
Industrial

8. 888
Gross Revenue per Segment
R$ thousand
+ 0.9%3,669,787 3,703,564
73.1% 74.1%
8.7% 9.2%
3.8% 4.0%
8.4% 7.8%
3.9% 4.7%
2.1% 0.2%
9M08 9M09
Thermal Generation
Cogeneration
NGV
Commercial
Residential
Industrial

9. 999
Margin per Segment
R$ thousand
1,076,255 881,234-18.1%
65.7%
61.5%
19.1%
23.0%
6.9% 7.9%
4.7% 3.9%
2.8% 3.5%
0.8% 0.0%
9M08 9M09
Thermal Generation
Cogeneration
NGV
Commercial
Residential
Industrial

10. 101010
Comgás: Financial Results
R$ Thousand
3Q09 2Q09 3Q08
D
3Q09/2Q09
D
3Q09/3Q08
9M09 9M08
D
9M09/9M08
959,708 986,585 1,130,233 -2.7% -15.1% Net Revenue 2,925,886 2,934,273 -0.3%
-657,692 -727,918 -727,908 -9.6% -9.6% Cost of Goods and/or Services Rendered -2,069,569 -1,894,255 9.3%
302,016 258,667 402,325 16.8% -24.9% Gross Income 856,317 1,040,018 -17.7%
-116,648 -104,831 -115,218 11.3% 1.2% Selling, General and Administrative Expenses -333,912 -330,376 1.1%
-44,141 -40,051 -34,772 10.2% 26.9% Depreciation and Amortization -122,445 -99,546 23.0%
-40,204 -32,085 -32,199 25.3% 24.9% Financial Results -109,344 -87,285 25.3%
0 -10,338 -16,816 -100.0% -100.0% Other Operating Income -26,457 -46,383 -43.0%
145,164 111,413 238,092 30.3% -39.0% Operating Income 386,604 575,974 -32.9%
96,577 79,679 167,550 21.2% -42.4% Net Income 272,061 411,239 -33.8%
229,509 193,887 321,879 18.4% -28.7% EBITDA 644,850 809,188 -20.3%
Note:
For the Ebitda calculation, Comgás has not considered other operating income, since property, plant and equipment write-offs were considered in the operational results
according to the Law 11.638.

11. 111111
529
468
264
153
2008 1Q09 2Q09 3Q09
D = 61
D = 204
D = 111
R$Million
Comgás: Regulatory Current Account Balance Evolution
Balance of Gas bill receivables: Cash Effect

12. 121212
Comgás: Financial Indicators
3Q09 2Q09 3Q08 9M09 9M08
10.7 9.9 9.7 Equity per Share($) 10.7 9.7
0.8 0.7 1.4 Earnings per Share($) 2.3 3.4
1.1 1.3 1.1 Net Debt per Equity (x) 1.1 1.1
1.6 1.9 1.0 Net Debt per EBITDA (x) 2.3 1.6
0.7 0.7 0.8 Current Ratio (x) 0.7 0.8
31.5% 26.2% 35.6% Gross Margin (%) 29.3% 35.4%
10.1% 8.1% 14.8% Net Margin (%) 9.3% 14.0%
23.9% 19.7% 28.5% EBITDA Margin(%) 22.0% 27.6%
10.0% 8.5% 18.2% Return on Assets (%) 9.7% 15.7%
30.2% 26.9% 57.4% Return on Equity (%) 28.3% 47.0%
Note:
Results achieved the period were annualized.

13. 131313
Dividends Paid
R$ MM
---- PAYOUT
11 16 27 25
303
330 334
275
200
2001 2002 2003 2004 2005 2006 2007 2008 9M09
17%
15%
26%
10%
95%
77% 75%
53%
2009 - Dividends of R$ 200 million declared to be paid in 3 installments during the year:
June 31st, 2009: R$ 100 million (already paid)
August 31st, 2009: R$ 50 million (already paid)
November 30th, 2009: R$ 50 million

14. 141414
100
229
200
230
276
474
426
397 403
290
2000 2001 2002 2003 2004 2005 2006 2007 2008 9M09
Investments – 2000 to 9M09
Over R$ 3.0 billion invested in the period
Network Extension:
Sep /08: 5,590 Kms
Sep/09: 6,098 Kms
D: 508 Kms
Main Projects:
São Bernardo do Campo
Santos
Campinas
Householders Added:
89,159
CAPEX
R$ MM
295
9M08

15. 151515
Investor Relations
Companhia de Gás de São Paulo – COMGÁS
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 andar - Vila Olímpia - CEP 04551-000 / São Paulo - SP - Brazil