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Three new Works of Abengoa in Peru and Uruguay

Madrid, 25 August 2003.- Complejo Ambiental Andino (CAASA), a Peruvian company owned by Befesa and Abengoa Perú, subsidiaries of Abengoa, has completed the construction of the first phase of a final industrial waste disposal centre, as part of its strategy to develop industrial waste management activities.

The investment, which surpassed a million dollars, has been made in a 75 hectare area of land in the district of Chilca, some 60 kilometres from Lima and will result in better industrial waste management. CAASA has received the corresponding health authorisation for treatment and final disposal of hazardous industrial wastes, from the Department of Environmental Health, the body responsible for matters related to solid wastes in Peru.

The first phase of the project consisted of the construction of a 65,000 ton capacity security storage basin, a pre-treatment slab as well as a laboratory, weighbridge, perimeter fencing and offices. Further storage basins could be constructed in the future to increase the capacity to 400,000 tons.

On the other hand, Red de Energía de Perú has awarded Abengoa Perú the contract "Change of conductors to 220 kV on the Lima-Chimbote line", which includes the complete change with partial supply and assembly of 160 kilometres of line from Lima to Chimbote.

Uruguay

Teyma, Abengoa's subsidiary company in Uruguay, has been awarded a contract in Montevideo to execute the expansion works for the rainwater drainage system in order to increase the drained area to 600 hectares as well as the rehabilitation of the treatment system piping networks and collectors, which are in a bad operating state. Moreover, it has been awarded the contract for works to develop the Networks of Cañada de Jesús María and the district of Conciliación, as well as pumping stations in the districts of Sarandí, Colón and Pantanoso. Finally, Teyma will execute modification works at Unidad Funcional Paraguay's dumps. The total investment will reach 20 million dollars and the works have been partially financed by the Inter-American Development Bank.

Abengoa is an industrial and technology company listed on the Stock Exchange, with share capital of more than 500 million euros (31/12/2002). It provides solutions for Sustainable Development, the Information and Knowledge Society and the Creation of Infrastructures. It operates in four large activity areas: Bioenergy, where it is the world's second largest bio-ethanol producer; Environmental Services, where it is leader in Europe in some segments of the industrial waste market; Information Technology, where it is one of the key players at international level, with operations in Europe, Latin America and Asia; and Industrial Engineering and Construction, where it is leader in Spain and Latin America. Sales in 2002 exceeded 1,500 million euro and net profit was 43.5 million euro.

Befesa, Abengoa's main company in the Environmental Services business sector, is listed on the Stock Exchange and ended the 2002 financial year with a share capital of more than 393 million euro. Sales reached 403 million euro, which represents a 10.4 percent increase, and profits came to 16.2 million euro (a 9.4 percent increase).