business plan for 2004 - EDP

EXTRACT FROM MINUTES Nº 1/2004 OF THE ANNUAL GENERAL MEETING OF EDP - ELECTRICIDADE
DE PORTUGAL, S.A., HELD ON MARCH 31, 2004, IN THAT PART CONNECTED WITH THIS PRESENT
LEGAL PUBLICATION:
(...)
The examination of the list of attendances, duly organised, having determined that Shareholders were present or
duly represented owning one billion, five hundred and thirty-nine million, six hundred and forty seven thousand,
three hundred and forty-two shares, exceeding the minimum quorum established by law for deliberation on first
call regarding the items of the Agenda, and as it was also found that the required legal publication of the notice of
the General Meeting had been properly undertaken, the chairman of the Board of the General Meeting expressed
his pleasure at the increase of Shareholder participation and declared the Meeting legally constituted and in a
position to validly deliberate on all the items of the Agenda, and therefore declared the meeting open -----------------
(...)
The joint discussion of the first two items of the Agenda having ended, Item One, in respect of the individual
accounts for two thousand and three, was put to the vote, and they were approved by majority, with fourteen
million six hundred and ninety-five thousand and ninety-three (97.71%) of votes in favour, zero votes against and
three hundred and forty-three thousand and seven hundred and eleven abstentions.---------------------------------------
Item Two of the agenda, concerning the consolidated accounts for two thousand and three, was put to the vote, and
they were approved by majority, with fourteen million six hundred and ninety-five thousand and ninety-three
(97.71%) of votes in favour, zero votes against and three hundred and forty-three thousand and seven hundred and
eleven abstentions. -----------------------------------------------------------------------------------------------------------------------
The Meeting then moved on to the appraisal of Point Three of the Agenda, the chairman of the Board of the General
Meeting having tabled the proposal for the appropriation of profits presented by the Board of Directors, as follows:
Net profit for the year: 381,108,990.40 euros; Legal reserve 19,055,449.52 euros; Dividends: 270,000,000.00 euros; and
Retained earnings: 92,053,540.88 euros.-----------------------------------------------------------------------------------------------
(...)
The Board of Directors’ proposal was approved by majority, with fifteen million three hundred and fifty-six
thousand and fifty-nine (99.99%) votes in favour, three hundred and forty-three votes against and one thousand five
hundred and fifty-eight abstentions. --------------------------------------------------------------------------------------------------
(...)
The proposal in respect of Item Four in respect of the appraisal of the management and supervision of the Company
having been put to the vote, a vote of confidence in the Board of Directors, and in each one of its members, and in
the Statutory Auditor was approved with fifteen million three hundred and fifty-five thousand nine hundred and
ninety-six (99.99%) were votes in favour, zero votes against and one thousand nine hundred and sixty-four
abstentions. --------------------------------------------------------------------------------------------------------------------------------
(...)
Item Five of the Agenda having been tabled, and following clarification provided by the chairman of the Board of
the General Meeting in respect of questions raised by some Shareholders, the request for authorisation to deal in
treasury shares was put to the vote. The Meeting adopted a resolution to give the Board of Directors the
authorisation under the proposed terms, with fifteen million fifty-five thousand seven hundred and eighty-four
(99,99%) votes in favour, five hundred and fifty-five votes against and one thousand six hundred and twenty-one
abstentions. --------------------------------------------------------------------------------------------------------------------------------
(...)
Item Six of the Agenda was then tabled in respect of the request for authorisation to acquire and dispose of own
bonds. The proposal submitted by the Board of Directors having been put to the vote, the Meeting decided to
approve it under the terms that had been presented, with fifteen million three hundred and fifty-five thousand and
seven hundred and ninety-six (99.99%) in favour, five hundred and eighty against and one thousand five hundred
and eighty-four abstentions. ------------------------------------------------------------------------------------------------------------
(...)
Lastly, Item Seven of the Agenda was tabled in respect of the proposal to partially alter the articles of association, to
modify article 11 in respect of the notice required to convene Meetings. Put to the vote, the Meeting approved the
said proposal, with fifteen million three hundred and fifty-three thousand nine hundred and eighty-eight (99.97%)
votes in favour, twenty-five were votes against and three thousand nine hundred and forty-seven abstentions. ------
Lisbon, March 31, 2004
The Company Secretary
António Pedro Balançuela Alfaia de Carvalho