SABESP (SBS) Announces 15th Issuance of Debentures

Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP (NYSE: SBS) issued by the Brazilian Securities and Exchange Commission, as amended, hereby informs its shareholders and the market in general that the Board of Directors of SABESP, at the meeting held on December 8, 2011, approved the 15th Issuance of simple Debentures, unsecured and non-convertible, for public distribution, with firm commitment and restricted efforts placement basis, pursuant to CVM Instruction 476, up to the amount of R$ 850,000,000.00.

The funds raised through the Debentures will be allocated for the payment of financial obligations due in 2012.

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