The shareholders of Companhia de Saneamento Básico do Estado de São Paulo - Sabesp ("Company") are hereby called, in accordance with article 5, paragraph 1 of the Bylaws, to the Annual Shareholders' Meeting to be held on April 30, 2015, at 11:00 a.m., at the Company's headquarters, located at Rua Costa Carvalho nº 300, in the city and state of São Paulo, to resolve on the following matters:


Annual Shareholders' Meeting

I. Examination of the Annual Management Report for the fiscal year ended December 31, 2014; resolution on the Company's Financial Statements for the fiscal year ended December 31, 2014, namely: Balance Sheet and the respective Statements of Income, Changes in Shareholders' Equity, Cash Flow and Value Added and Notes to the Financial Statements, as well as the Independent Auditors' Report, Opinion of Fiscal Council and Audit Committee's Annual Summarized Report.

II. Resolution on the allocation of net income for fiscal year of 2014.

III. Election of members of the Fiscal Council for a term of office ending in 2016.

IV. Establishment of the overall annual compensation of the of Management and members of the Fiscal Council for fiscal year of 2015. Proof of the status of shareholder may be provided at any time before the opening of the annual shareholders' meeting upon presentation of identification, proof of ownership and the
number of shares held issued by the depositary financial institution, and in the case of proxy representation, the applicable proxy appointment duly notarized and granted within the last year.

Pursuant to CVM Instruction 282 of June 26, 1998, the minimum percentage of the Company's voting capital required to request multiple votes is 5% (five percent). The documents related to the matters to be discussed in the Annual Shareholder's Meeting will be at the shareholders' disposal at the Company's headquarters and electronically, on the CVM's website, in the format and for the time period defined by CVM Instruction 481/2009.


São Paulo, March 26, 2015

Benedito Pinto Ferreira Braga Junior
Chairman
Board of Directors

distributed by