In the US the ADRs will be directed toinstitutional investors only, the company said in a statement.

The shares that will be sold are owned byBanco Santander Brasil, and equity funds InfraBrasil and Fundo de Investimentoem Participações Caixa Ambiental (FIP Caixa Ambiental), who will receive theproceeds from the sale.

Details and dates of the public offeringwill be made available when the prospectus is published.