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Abengoa has been awarded a 140 million dollar project

October 1, 2003

Madrid, 1st October 2003.- Abengoa has been awarded the contract under the call for tenders from the National Electric Energy Agency (ANEEL) to build, operate and maintain the installations for a project that includes a 525/230 kV substation and 370 kilometres of 525 kV transmission lines for a total contract value of 140 million dollars.

The contract under this call for tenders, in which more than 40 Brazilian and multinational companies participated, is the first to be awarded by the current government under the investment plan for the country's transmission system. Overall, more than 1,780 kilometres of line have been awarded, with more than 21 percent having gone to Abengoa. The contract will generate an induced volume of business for Abengoa of 463 million dollars.

According to Salvador Martos, manager of the Latin America business unit, "this is the fifth project Abengoa has been awarded under the Brazilian government's Investment Plan. Moreover, we have competed against more than forty important companies and have been awarded a very significant percentage of the lines being bid for".

Abengoa has already been awarded contracts in Brazil for a total of 391 kilometres of 500 kV lines, 104 kilometres of 230 kV lines and two complete 500 kV substations for a total in excess of 260 million dollars. Inabensa has recently been awarded, in consortium with Cobra, a 300 million euro contract in Libya. These contracts will generate an induced volume of business for Abengoa of 1,991 million dollars.

According to Salvador Martos "Abengoa thus consolidates its leadership in the Brazilian market. We have been present in the area for many years now, and this is just another step that has been taken in the Latin American market, which is an extremely attractive one for us".

Abengoa is an industrial and technology company listed on the Stock Exchange, with a capitalisation 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 currently operates in four large fields of activity: Bio-energy, where it is the world's second bio-ethanol producer; Environmental Services, where it is leader in Europe in some of the industrial waste market segments; Information Technologies, 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.

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