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February

Abengoa and KWST will supply 43 million liters of bioethanol to Germany

February 3, 2004

Madrid, 3 February 2004.- Abengoa, through Abengoa Bioenergía, its Bioenergy subsidiary, has, together with Kraul & Wilkening u. Stelling Kommanditgesellschaft-Gmbh & Co. (KWST), signed a contract with PCK to supply it with 43 million liters of dehydrated bioethanol at its Schwedt refinery (Germany) throughout 2004. Deliveries will be made monthly in accordance with the purchasing needs.

PCK will use the bioethanol to produce ETBE (Green Petrol), an oxygenated component of lead-free petrol, in the MTBE unit of its refinery that has been adapted to this end, and which has an annual capacity of 85,000 tons. The new German legislation, which eliminates the special tax on hydrocarbons from the bioethanol portion used as a biofuel in petrol, came into force on 1st January 2004.

The quality of the bioethanol meets the strictest requirements of the oil company, especially as regards the limits demanded in ETBE (Green Petrol) production. The bioethanol to be exported will be produced at Bioetanol Galicia's plant and in that of KWST with vegetable components and meets the requirements established by German legislation.

Javier Salgado, managing director of Abengoa Bioenergía, states that "with this new supply contract we are expanding our activity in Europe while we are also increasing and diversifying our clients among the oil companies and refineries in the EU. We are consolidating our presence in the markets in which we are already established and participating in new emerging markets". "This contract - adds Salgado - must be added to that already signed with the Swedish oil company Svenska Shell, by which twelve million liters of bioethanol were supplied".

The production capacity of the Cartagena (Murcia) and Curtis (A Coruña) plants enables the company to export their production and gain quicker access to the European markets. Likewise, Salgado also states, "this export contract, which enables our presence in Germany, is complemented with our business strategy, given that in the USA our main customers are Shell and British Petroleum".

Abengoa Bioenergía offers reliability and flexibility in supply and is capable of putting a large volume of high quality bioethanol on the market as a result of the improvements made in the production process and efficient operation of its plants.

Bioethanol exports to the European Union over the next five years are a key factor in Abengoa Bioenergía's Business Plan. The strategy is focused on negotiating and signing further long-term supply contracts which provide the end-consumers with an excellent opportunity to commence developing the infrastructures required for the introduction of bioethanol.

PCK is a Joint Venture established by British Petroleum (37.5 percent), Shell (37.5 percent), Total (16.6 percent) and Agip (8.4 percent). The refinery processes 9.5 million tons of crude oil per year.

Abengoa Bioenergía currently operates two bioethanol plants, using cereals as a raw material, in Spain - Ecocarburantes Españoles and Bioetanol Galicia S.A., with a total installed capacity of 142 and 168 million liters a year respectively. Moreover, a third plant is under construction in Salamanca, with Ebro Puleva as a partner, called Biocarburantes de Castilla y León. This plant's annual production will be 200 million liters, of which, five will be produced from the conversion of the biomass content in the cereal, using a novel technology that Abengoa Bioenergía R&D is in the process of developing. In the United States, the company operates three bioethanol plants with a total capacity of 360 million liters a year. This means the company is now the world's second largest, and Europe's No. 1, bioethanol producer.

Abengoa is an industrial and technology company listed on the Stock Exchange, with a capitalisation of more than 500 million euros (31/12/2003). 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 bioethanol producer; Environmental Services, where it is the 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.



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