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Firm Closes Loans for Brazilian Energy Company to Expand and Modernize Electricity System

August 30, 2006

WASHINGTON, D.C. (August 30, 2006) - On behalf of Grupo Rede, one of the largest Brazilian energy distribution companies, Bracewell & Giuliani helped close loans worth $250 million from the Inter-American Development Bank (IDB) and two private banks ItaúBBA and Société Générale.

Led by Latin American Business partners Amauri Costa and Nancy Jo Nelson, who both practice in the Washington, D.C., office, a Bracewell team advised borrower Grupo Rede in loans to Centrais Elétricas do Pará and Centrais Elétricas Matogrossenses - both part of the Grupo Rede. The loans will allow the companies to expand and modernize electricity distribution networks in the Brazilian states of Pará and Mato Grosso, leaving additional development to those areas.

Centrais Elétricas do Pará will receive $135 million while Centrais Elétricas Matogrossenses will receive $114.5 million. The deal closed July 21.

"This deal highlights Bracewell's ability to negotiate and draft documents in Portuguese, as well as ensure consistency between U.S. law- and Brazilian-la governed documents," said Costa.

Grupo Rede currently supplies electricity to around 2.7 million connections in Brazil in Pará, Tocantins, Mato Grosso, São Paulo, Minas Gerais and Paraná. It is completely owned by Brazilian capital.

The Latin American Business practice, led by experienced transactional lawyers and supported by firm's attorneys who handle energy, finance, tax, intellectual property and regulatory matters, provides corporate services in Latin America concentrating on matters related to mergers, acquisitions, divestitures, joint ventures, private sector infrastructure development and project financing.

Clients of Bracewell's Latin American practice include multinational companies, both U.S. and non-U.S. owned, banks, underwriters, private investment funds and the World Bank and other international financial and multilateral institutions or export credit or investment agencies.