Seville, June 26, 2005.

During the course of his intervention at the General Shareholders’ Meeting, Abengoa’s Chairman, Javier Benjumea, expressly mentioned Abengoa’s renewed trust in Xfera, which must also be now added to the recent declarations that have been made by the operator’s other main shareholders and those of Xfera’s own Managing Director. The culmination of an agreement with a new shareholder in Xfera, with experience in the telecommunications sector and interested in the deployment of third generation UMTS networks in Europe, would redound to the viability of the operator.

The commercial launching of Xfera could occur prior to June 2006, once the entry of the new partner has been culminated. The signing, last June 14, of the agreement for the orderly and safe deployment of mobile telephone antennae will greatly facilitate the commencement of Xfera’s commercial activity, and this must be added to the infrastructure sharing agreements Xfera has closed with the rest of the UMTS operators.

The General Shareholder’s Meeting approved the individual and consolidated Annual Accounts for the 2004 financial year, together with the Audit Reports, issued without reservation as in previous years, appointed PriceWaterhouse Coopers as the audit firm auditors for the current 2005 financial year, and agreed to the appointing of two new directors.

The agreed dividend per share is 0.14 euro/share.

Abengoa, a listed industrial and technology company, with treasury stock in excess of 900 million euro, provides solutions for Sustainable Development, the Information and Knowledge Society, and the Creation of Infrastructures. It currently operates in four large fields of activity: Bioenergy, where it is the world’s No. 2 bioethanol producer; Environmental Services, where it is European leader in segments of the industrial wastes market; Information Technologies, where it is one of the main role-players at international level, with operations in Europe, the Americas, and Asia; and Industrial Engineering and Construction, where it is leader in Spain and Latin America.