BALANCE SHEET AS OF DECEMBER 31
( UNDER THE CORPORATE LAW )
( Expressed in thousands of Reais )
ASSETS	2000	1999
CURRENT ASSETS	86.719	90.316
Cash and Cash Equivalents/Investments	55.392	61.738
Trade Receivables	15.822	12.340
Inventories	11.919	10.453
Receivables	1.362	3.248
Prepaid Expenses	2.224	2.537
LONG-TERM ASSETS	11.286	11.540
Eletrobrás Credits	575	478
Deferred Income Tax	5.076	6.385
Blocked Deposits and Other Credits	5.635	4.677
PERMANENT ASSETS	110.951	87.035
Investiments	8	75
Property, Plant and Equipment	103.688	82.783
Deferred Charges	7.255	4.177
TOTAL ASSETS	208.956	188.891
LIABILITIES	2000	1999
CURRENT LIABILITIES	22.908	19.543
Trade Payables	8.777	3.668
Personnel Obligations	1.657	1.486
Taxes and Accounts Payable	4.506	5.947
Financial Institutions	5.691	5.464
Dividends and Participations	2.277	2.978
LONG-TERM LIABILITIES	39.991	31.308
Financial Institutions	22.108	14.544
Deferred Income Tax	75	571
Taxes and Obligations Payable	17.808	16.193
SHAREHOLDERS EQUITY	146.057	138.040
Capital	116.726	116.726
Revenue Reserves	29.331	21.314
TOTAL LIABILITIES	208.956	188.891