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August

Telvent reinforces its position in North America through acquisition of Xwave's Western Region business

August 13, 2004

Madrid, August 13th, 2004 - Telvent, the Global RealTime IT Company and subsidiary of Abengoa, has acquired the Western Region business of Xwave Solutions INC., subsidiary of Aliant and outsourcing services provider for the Information Technologies located in Calgary, Canada.

This transaction will strengthen Telvent's client base in the North American market, where it is already well established, and will also allow the implementation of an IT services competency center, with the ability to offer a full range of services to existing Telvent and Xwave clients, as well as new customers.

In addition to business operations, the acquisition also includes the transfer of Xwave's technical and management personnel, which will expand Telvent's team in North America to well over 500 people.

Xwave is a subsidiary of Aliant Inc., a major provider of communication services, which conducts business primarily in Atlantic Canada. Contributing to its solid reputation for providing quality IT business services, Xwave has developed a prestigious customer base within the energy community. In addition to one of the major global natural gas suppliers, Xwave's client list also includes the largest independent natural gas producer in North America.

According to Telvent's Chairman, Manuel Sánchez Ortega, this acquisition provides a number of opportunities for Telvent, based on a variety of geographic, industry and strategic factors. "One of the key strategic goals for our company is to effectively enhance our Enterprise RealTime IT strategy," he said. "Telvent has already established itself as the industry leader in pipeline automation and control systems in North America. Our objective, however, is to advance beyond the operations space, reaching into the enterprise layer of the corporation, making it possible to provide new solutions and services to existing and new clients. This will enable companies to integrate the realtime requirements of their mission-critical applications with their corporate information systems. Xwave is already well established in this enterprise area through its IT services business, which provides the framework for achieving this objective."

Xwave's reputation in the marketplace was one of the key factors supporting the acquisition, according to Telvent's Chairman. "That reputation is due in large part to the excellence of Xwave's highly-skilled IT professionals and their experienced and focused management team," he said.

About Xwave

Xwave, an Aliant company, delivers complete IT services to clients through three service lines: systems integration and software engineering; infrastructure services; and product fulfillment. These areas offer clients a broad delivery capability: xwave plans, designs, builds and operates IT solutions that span both corporate and operational systems and fulfill all infrastructure needs. With over $365 million in revenues and 2,000 people, Xwave is one of the largest IT services companies in Canada. More information can be found at www.xwave.com

About Telvent

Telvent, the Global RealTime IT company and subsidiary of Abengoa, is specialized in solutions with high added value, in four specific industrial sectors (Energy, Traffic, Transport and Environment) in the Americas, Spain and China.(www.telvent.com)

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 Madrid 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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