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Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under
the Securities Exchange Act of 1934.

Yes ______ No ___X___

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companhia de saneamento básico do estado de são paulo – sabesp

EXCERPT OF THE MINUTES OF THE FISCAL COUNCIL MEETING OF COMPANHIA DE SANEAMENTO BÁSICO DO ESTADO DE SÃO PAULO - SABESP, HELD ON SEPTEMBER 12, 2008.

On September 12, 2008, at 2:00 pm, at the headquarters of Companhia de Saneamento Básico do Estado de São Paulo - Sabesp, located at Rua Costa Carvalho n° 300, in this Capital, the following Fiscal Council members of Sabesp met: Maria de Fátima Alves Ferreira, Emília Ticami, Sandra Maria Giannella, Atílio Gerson Bertoldi and Jorge Michel Lepeltier. I, Marli Soares da Costa, as an Advisor to the Chief Executive Office for Corporation’s Affairs, was invited to be the secretary of the meeting. The following persons also attended the meeting: the Head of Accounting Nara Maria Marcondes França, the Advisor to the Chief Executive Office Desirée Ramos Mansano and representing the Audit Department, João Francisco Arcoverde Lopez, the Operational Audit Manager. Starting the meeting, the Board Members (........). Subsequently, the Board Members proceeded to item 2 of the agenda, Presentation: “2^nd Program for Distribution of Securities and 9^th Issuance of Simple Debentures,” inviting the Head of Capital Markets and Investor Relations Mário Azevedo de Arruda Sampaio, to present the matter, which documentation was included in this meeting’s file. He talked about the goal of the 2008 Funding Program, pointing out the importance of obtaining funds to meet the Company’s budget and concluded his discussion by showing the advantages of the adopted alternative. He also clarified that this matter was deliberated by the Board of Directors, which authorized the Board of Executive Officers to proceed in the planning process of the 9^th Issuance of Simple Debentures and of the 2^nd Program for Distribution of Securities. (........) Other issues were formulated and clarified by the expositor. Subsequently (........). These minutes, after approved, were signed by the attending Fiscal Council Members: Maria de Fátima Alves Ferreira, Emília Ticami, Sandra Maria Giannella, Atílio Gerson Bertoldi and Jorge Michel Lepeltier.

I declare that this text is a free English translation of the passage of the minutes drawn up in the Fiscal Council’s registration book of minutes.

São Paulo, September 29, 2008.

Marli Soares da Costa
Secretary of the Meeting

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This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

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