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March

Telvent will carry out the Automatic Ticketing System and Communication System for the Metro in the city of Tianjin, China, for an amount of 21 million Euros

March 25, 2004

Madrid, 25 March, 2004.- Telvent, the global real time IT company, subsidiary of Abengoa, has signed contracts with the Chinese authorities to supply the Automatic Ticketing System and Radio Communication System for Tianjin's Metro. The Tianjin Project, financed by FAD credits, includes the start-up of twenty-two stations covering a route of twenty-seven kilometers, which is planned to start functioning at the end of 2005.

Tianjin, located at just 120 kilometers from Beijing, is the most important Port city in the North of China. Its population of 11 million inhabitants and a surface area of 11.900 km² make it one of the most populated cities in China. At the start of the nineties, China adopted a strategic decision to open and develop the areas adjoining the Gulf of the Bohai Sea. Thanks to this, Tianjin, being the biggest city in the region, began to see a rapid take-off in its economy.

In order to realize the Automatic Ticketing System, Telvent will use the "Mobifast" system, its own technological system, fruit of its investment in R+D. Mobifast is a solution developed by Telvent for Metros and lightweight trains. This automatic collection system is already installed in many emblematic cities in the world, both in Spain and in Latin America such as Madrid, Barcelona and Belo Horizonte. This is the first project of its kind that the company will install in a Chinese city.

With regards to the Radio Communication System (Tetra), Telvent already has one other experience in this country as last year it installed the Lightweight Train Communication System in the same city.

Telvent will supply more than 300 ticket-expending machines, more than 200 automatic turnstiles and the entire Radio Communications System. This installation places the city of Tianjin at the forefront of Metro technology and regulation in China.

Telvent has demonstrated with this contract its consolidated presence in the Chinese market, where it has been present since 1990 with wide experience in projects such as: Tetra System for the Light-weight Train of Tianjin Binhai; Traffic, Toll and Communications Control System for the Hangzhou-Ningbo highway; Interurban Traffic Control System, Control of Tunnels and Toll System for the Yantian-Bagan highway; Centralization of Urban Traffic in the city of Wuhan; Traffic Control Systems for the cities of Chanchun, Nanning and Beijing; Installation of the Supervisory, Control and the Data Acquisition System OASyS for the oil-pipelines of the cities of Fushun, Kushan, Chengdu and Lang Fan; Chonging and Hunan; Installation of the Supervisory, Control and Data Acquisition System OASyS for the gas-pipelines in the cities of Chengdu, Choning and Huayang; Installation of the Supervisory, Control and Data Acquisition System OASyS for the energy management of the cities of Hunan, Nanchang and Guangzhou.

About Telvent

Telvent, the Global Real Time IT and subsidiary of Abengoa, is specializes in real time IT solutions with high technological added value for specific industrial sectors such as Energy, Traffic, Transport and Environment. Telvent is a leading supplier to these industries in Spain, North America, Latin America and Asia.

With over 40 years experience in industrial supervisory control and business process management systems, Telvent executes projects and provides technical services in the field of mission-critical, real-time control and information management. With the most comprehensive portfolio of outsourcing and consulting services, and employing a technology-neutral philosophy, Telvent manages IT and telecommunications infrastructure for an extensive international client base. (www.telvent.com)

About Abengoa

Abengoa, industrial and technology company with worldwide activities, provides solutions for Sustainable Development, the Information and Knowledge Society and the Creation of Infrastructures. The company has a capitalization of over 500 million euros (31/12/2003) and is listed on the Stock Exchange. Abengoa operates in four important areas: Bioenergy, where it is the world's second largest bioethanol producer; Environmental Services, where it is European leader in different industrial waste market segments; Information Technologies, where it has achieved global recognition and has operations in Europe, North America and Asia; and Industrial Engineering and Construction, where it is leader in Spain and Latin America. (www.abengoa.com)



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