ISAGEN S.A. E.S.P. ANNUAL REPORT 2007

to provisions established in the Good Government Code. This was evidenced by thecurricula vitae placed at the Shareholders’ disposal.Meetings and quorumDuring the 2007 exercise, the Board of Directors met on a monthly basis. Meetingsummoning, disclosure of information to its members, and, in general, its functioningwas conducted according to the Statutes and the Good Corporate Government Code.Principal and deputy members have attended the Board of Directors’ meetings.An annual planning of the Board’s meeting was determined. The members’ attendanceis described as follows:Considering attendance of all principal and deputy members, the attendancepercentage was 90,8% for 2007 against 85,35% for 2006.If only the principal members’ attendance is considered, the participationpercentage is 95% for 2007 against 84,61% for 2006.Committees of the Board of DirectorsDuring 2007, the Board’s permanent committees included the Matters of the BoardCommittee, the Finance and Investments Committee, and the Auditing Committee.Additionally, two committees functioned occasionally, Democratization Committeeand Internationalization Committee.Committees performed in accordance to established provisions regarding composition,responsibilities, and functioning.Regarding composition, provisions established by the Good Corporate GovernmentCode and the Board of Directors’ Rules and Regulations were fulfilled. Such provisionsestablish that each member of the Board of Directors should not belong to more thantwo committees and that such committees should be constituted by suitable membersin order to carry out their responsibilities.All committees have at least one independent member and the Auditing Committeeis made up by the independent members.The Finance and Investments Committee changed its denomination to Committeeof Finance and New Businesses because its responsibilities are extended to revisethe Company’s investments and to the incursion in new businesses and internationalmarkets.Below a summary of activities carried out by the permanent committees ispresented.24 ISAGEN S.A. E.S.P. ANNUAL REPORT 2007