LIGHT S.A. CORPORATE TAXPAYER ID (CNPJ/MF): 03.378.521/0001-75 COMPANY REGISTRY (NIRE): 33.3.

0026316-1 PUBLICLY-HELD COMPANY EXCERPT FROM THE MINUTES OF THE BOARD OF DIRECTORS MEETING OF LIGHT S.A., HELD ON NOVEMBER 4, 2011, DRAWN UP IN THE SUMMARY FORMAT, IN ACCORDANCE WITH PARAGRAPH 1, ARTICLE 130, OF LAW 6404 OF DECEMBER 15, 1976 (BRAZILIAN CORPORATE LAW). 1. Date, time and venue: November 4, 2011, at 2:30 p.m., at the headquarters of Light S.A., located at Avenida Marechal Floriano, 168, parte, 2 andar, corredor A, Centro, in the City and State of Rio de Janeiro (Company). 2. Attendance: The sitting board members Sergio Alair Barroso - Chairman, Djalma Bastos de Morais, Cristiano Corra de Barros, Humberto Eustquio Csar Mota, Luiz Carlos Costeira Urquiza, Rutelly Marques da Silva, Andr Fernandes Berenguer, Raul Belens Jungmann Pinto, Carlos Alberto da Cruz and Elvio Lima Gaspar, and the alternate acting board member Almir Jos dos Santos attended the meeting. The alternate board members Csar Vaz de Melo Fernandes, Wilson Borrajo Cid, Fernando Henrique Schffner Neto, Marcelo Pedreira de Oliveira, Joaquim Dias de Castro and Magno dos Santos Filho also attended the meeting, but they did not vote. The attorney Cludia de Moraes Santos was invited to serve as secretary. The Companys Chief Executive Officer, Jerson Kelman, and the Executive Officers Joo Batista Zolini Carneiro, Paulo Roberto Ribeiro Pinto, Jos Humberto Castro, Ana Silvia Corso Matte, Evandro Leite Vasconcelos, Fernando Antnio Fagundes Reis and Paulo Carvalho Filho also attended the meeting. 3. Agenda and Resolutions: 3.13. Agreement T-032/2011 (Itaocara Energia Ltda.) Capital Contribution to Itaocara Energia Ltda. Following the Finance Committees advice, the Board of Directors unanimously approved and advised the board members appointed by Light S.A. at the Members Meeting of Itaocara Energia Ltda. to approve the capital contribution by the Company to Itaocara Energia Ltda., amounting to four million, seven hundred sixty-seven thousand, eight hundred sixty-five reais and seventy-three centavos (R$4,767,865.73), in domestic currency, to be paid up to December 31, 2011, in order to finance the participation of Itaocara Energia Ltda., jointly with Cemig GT, in the Itaocara Hydroelectric Power Plant Consortium, at the proportion of fifty-one per cent (51%) and forty-nine per cent (49%), respectively, considering: (i) cash estimated for October 31, 2011 totaling one million and forty-eight thousand reais (R$1,048,000.00); (ii) maintenance of remaining cash totaling three hundred thousand reais (R$300,000.00); and (iii) contribution to Itaocara Hydroelectric Power Plant Consortium totaling five million, five hundred fifteen thousand, eight hundred sixty-five reais and seventy-three centavos (R$5,515,865.73), equivalent to fifty-one per cent (51%) of its interest, in accordance with Agreement T-032/2011 of November 4, 2011.

3.14. Agreement F-018/2011 (Light S.E.S.A.) Renewal of Overdraft Facilities Banco Votorantim and Citibank. Following the Finance Committees advice, the Board of Directors unanimously approved and advised the board members appointed by Light S.A. at the Board of Directors of Light S.E.S.A. to approve the renewal of the following operations: 1) Availability of line of credit for working capital by Banco Citibank S.A., to be utilized only in case of immediate need: (i) Instrument: Working Capital; (ii) Borrower: Light Servios de Eletricidade S.A.; (iii) Creditor: Banco Citibank S.A.; (iv) Amount: up to thirty million reais (R$30,000,000.00); (v) Term: up to six (6) months (renewable); and (vi) Cost: to be defined upon the utilization; and 2) Availability of line of credit for working capital by Banco Votorantim, to be utilized only in case of immediate need: (a) Instrument: Working Capital; (b) Borrower: Light Servios de Eletricidade S.A.; (c) Creditor: Banco Votorantim; (d) Amount: up to one hundred million reais (R$100,000,000.00); (e) Term: up to six (6) months (renewable); and (f) Cost: to be defined upon the utilization. No additional cost will be charged from the Company for a line of credit which was not withdrawn, in accordance with Agreement F-018/2011 of November 4, 2011. 3.15. Agreement F-015/2011 (Light S.E.S.A.) BNDES-FINEM Financing for Light S.E.S.A. 2011/2012 Investment Plan Final Conditions. Following the Finance Committees advice, the Board of Directors unanimously approved and advised the board members appointed by Light S.A. at the Board of Directors of Light S.E.S.A. to approve the proposal for taking out loan totaling nine hundred fifteen million, four hundred ninety-five thousand reais (R$915,495,000.00) from the Brazilian Development Bank (BNDES), in order to finance the 2011-2012 Investment Plan of Light S.E.S.A., corresponding to approximately fifty-seven per cent (57%) of total amount of the investments described below: (i) Sub-loan 0001: Investments in social projects related to the Companies Social Investments in the Community; (ii) Sub-loan 0002: acquisition of domestic machines and equipment complying with criteria established by the Special Agency for Industrial Financing (FINAME), to be used in the implementation of Light S.E.S.A.s investment plan, for the expansion, modernization and adaptation of its electric energy distribution system; (iii) Sub-loans 0003 and 0004: financial support for implementation of subprojects with valid environmental licenses or from which no environmental license is required, in accordance with current environmental standards, within Light S.E.S.A.s 2011-2012 investment plan for expansion, modernization and adaptation of its electric energy distribution system; (iv) Sub-loans 0005 and 0006: financial support for the interconnection of SE Gardnia implementation of 138KV underground network; (v) Sub-loans 0007 and 0008: financial support for the conclusion of expansion of installed capacity of substation, from 60MVA to 120MVA, through replacement of three 138/13.8kV transformers of 20MVA by other three of 40MVA in SE Boca do Mato; automation of substation in SE Meriti; automation and compliance with conditions for licensing of operations and works by the Environment Bodies in SE Cosmos; compliance with conditions for licensing of operations and works by the Environment Bodies in SE Caxias, SE Piedade and SE Mackenzie; implementation of 138/13.8kV, 3x40MVA substation in SE Gardnia; replacement of one 138kV circuit breaker in SE Rocha Freire; replacement one 138kV circuit breaker in SE Humait; interconnection of SE Influncia - Implementation of 138kV network; LTS Pedro Ernesto-Ramos Construction of oil-collecting basin; LTA Volta Redonda-Saudade Vila Valqueire Network Construction of wall; opening of any roads for access to the towers; rearrangement of several transmission lines for renovation of SE Camerino; deactivation of Light S.E.S.A. substation, which will be transformed into a training unit for employees in CT Queimados; implementation of new substations in SESD Eng Nbrega,
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SESD Parapena, SESD Rio Claro, SESD Vila Isabel, SESD Bocaina, SESD Fnix, SESD Floriano, SESD Marmelo, SESD Santansia, SESD Santa Cruz and SESD Caramujo; and modernization of automatic transfer switch of rural substations in SESD Barra do Pira; (vi) Sub-loans 0009 and 0010: financial support for the construction of oil-collecting basin Jacarepagu-Cosmos and Jacarepagu-Ari Franco Transmission Lines; (vii) Sub-loans 0011 and 0012: financial support for the conclusion of expansion of installed capacity of substation, from 100MVA to 120MVA, through replacement of one 138/13.8kV transformer of 20MVA by other of 40MVA and replacement of 15kV armored cables; installation of digital system for automation of substation; expansion and reconfiguration of capacitor banks; and modernization of substations auxiliary services SE Pavuna and part of lowland area of Rio de Janeiro; (viii) Sub-loans 0013 and 0014: financial support for the replacement of 15kV armored cables, replacement of two 138/25kV transformer banks by two three-phase transformers of 36MVA and automation of substation SE Trs Rios; (ix) Sub-loans 0015 and 0016: financial support for the construction of a 138kV transition substation for Gardnia network interconnection of SE Globo and Jacarepagu; and (x) Sub-loans 0017 and 0018: financial support for the implementation of 138/13.8kV, 3x40MVA substation in SE Toms Coelho. The main characteristics of the sub-loans mentioned above are the following: Sub-loan 0001 - TJLP; term of utilization: 3/15/2014; grace period: 3/15/2014; amortization: 60 months; Sub-loan 0002 - TJLP + 1.81% per year; term of utilization: 3/15/2013; grace period: 3/15/2013; amortization: 72 months; Sub-loans 0003/0005/0007/0009/0011/0013/0015/0017 - TJLP + 2.21% per year; term of utilization: 3/15/2013; grace period: 3/15/2013; amortization: 72 months; Sub-loans 0004/0006/0008/0010/0012/0014/0016/0018 - TJLP + 2.21% + 1% per year; term of utilization: 3/15/2013; grace period: 3/15/2013; amortization: 72 months. As guarantees of said operation, Light S.A. is the surety and main payer, expressively waiving the benefits set forth in Articles 366, 827 and 838 of Civil Code and being jointly responsible, up to the settlement of the Agreement, for the full compliance with all obligations assumed therein by LIGHT S.E.S.A. In addition, in order to ensure the payment of any obligations established in the Agreement, such as the principal of debt, interest, commissions, agreed penalty, fines and expenses, Light S.E.S.A. is committed to guarantee, in favor of BNDES, in an irrevocable manner, as from the execution of the Financing Agreement and up to the settlement of all obligations assume therein, four point seventy per cent (4.70%) of monthly net revenue of Light S.E.S.A. arising from electric energy distribution, or other resources that, with identical purpose, may replace it, destined to Light S.E.S.A. The other conditions are described in Agreements F-015/2011 (Light S.A. and Light S.E.S.A.), both of November 4, 2011, as well as in the draft of the financing agreement made available by BNDES and the respective conditions for the execution of the agreement. 3.16. Agreement F-017/2011 (Light S.E.S.A.) Surety of Light S.A. External Loans through Resolution 4131 with Swap for CDI (complement to Agreement F-007/2011 of June 10, 2011). Following the Finance Committees advice, the Board of Directors unanimously approved and advised the board members appointed by Light S.A. at the Board of Directors of Light S.E.S.A. to approve, as amendment to the decision of the Board of Directors Meeting held on June 10, 2011, which approved the conditions for external loan through BACEN Resolution 4131, with swap for CDI Partial Replacement of the 5th Issue of Debentures, the inclusion
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of the Company as surety of this loan. Thus, the conditions are now the following: (i) Borrower: Light S.E.S.A.; (ii) Surety: Light S.A.; (iii) Bank: to be defined, according to best quotation; (iv) Instrument: external loan through BACEN Resolution 4131, with swap for CDI; (v) Amount: up to four hundred million reais (R$400,000,000.00), to be defined based on the price; (vi) Term: at least three (3) years, with final amortization; and (vii) Purpose: prepayment of the 5th Issue of Debentures (CDI + 1.50% per year), replacing it by a cheaper and longer debt, according to Agreement F-017/2011 of November 4, 2011. This is a free English translation of the excerpt from the minutes of the Board of Directors Meeting of Light S.A., held on the date hereof.

Cludia de Moraes Santos Secretary