PRESS RELEASE



FORM 6-K



SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549



Report of Foreign Private Issuer



Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934



March 31, 2008



PETROBRAS ENERGIA PARTICIPACIONES S.A.

(formerly PEREZ COMPANC S.A. and PC HOLDING S.A.)

(Exact Name of Registrant as Specified in its Charter)


Maipú 1, Piso 22

(1084)  Buenos Aires, Argentina

(Address of Principal Executive Offices)



(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)


Form 20-F  X   Form 40-F


(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


If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):82

N/A.



PETROBRAS ENERGIA PARTICIPACIONES S.A.




CASH DIVIDEND PAYMENT




Buenos Aires, March 31, 2008 – Petrobras Energía Participaciones S.A. (Buenos Aires: PBE, NYSE: PZE), controlling company of Petrobras Energía S.A. (Buenos Aires: PESA), announces that at the Company’s General Shareholders’ Meeting held on March 28, 2008, the Chairman stated that if upon approval of the Company’s quarterly Financial Statements for 2008 fiscal year, net and realized profits are reflected for an amount equivalent to the sum the Company is entitled to receive in connection with the cash dividend of P$315,000,000 (three hundred and fifteen million Argentine pesos) approved by Petrobras Energía S.A.’s General Shareholders’ Meeting held on March 28, 2008, the Board of Directors will authorize payment of an advance cash dividend pursuant to the provisions of Section 224 of the Business Association Law, for up to the aggregate amount mentioned above.


www.petrobras.com.ar



PETROBRAS ENERGÍA PARTICIPACIONES S.A.


Date: 31/03/2008

By: /s/  Daniel Casal  

By: /s/ Luis M. Sas

Name: Daniel Casal

Name: Luis M. Sas

Title:   Attorney

Title:   Attorney