Madrid, November 22, 2005. - Befesa Medio Ambiente, the holding company of Abengoa’s environmental services business unit and Cepsa have signed a 20-million euro framework contract for industrial waste management at Cepsa’s different work centers. The contract is for five years through to 2010.

The objective is to minimize the wastes generated in Cepsa’s different plants with the technological support provided by Befesa. The framework contract contemplates the possibility of any Cepsa production center that has not initially been included may subscribe to the contract it in the future. Given Befesa’s vast and proven experience in waste treatment, expectations are for more 30,000 tons of hazardous and non-hazardous wastes to be managed.

According to Befesa’s chairman, Javier Molina, “the signing of this contract guarantees waste management for five years, means stability up to 2010, while also consolidating our advantage over our competitors, which is allowing us to grow in the sectors we already operate in and make headway in new sectors, such as that of internal management at the customers’ own facilities”.

The management service includes, among other activities, the collection, internal transportation, provisional storage, selection and preparation for external transportation and management of the non-hazardous wastes. As regards hazardous industrial waste management, in addition to the aforementioned activities, “in situ” management and treatment of the flows of biological, oily and interface sludge and the sludge from the physicochemical treatment processes of the different wastewater plants will be performed in specific facilities.

These services will be provided at Cepsa’s different production centers: La Rabida Refinery (Huelva), Gibraltar Refinery (San Roque), and Tenerife Refinery (Canary Islands); ERTISA (Huelva), INTERQUISA (San Roque), LUBRISUR (San Roque), (San Roque and Huelva), and Cogeneración de Tenerife (Tenerife).

Befesa, Abengoa’s Environmental Services subsidiary, focuses its activity on providing environmental services for the industrial sector and on the construction of environmental infrastructures. It is a listed company and closed 2004 with treasury stock in excess of 393 million euro. In 2004, Befesa managed a total of 1,374,000 tons of industrial wastes, a twelve per cent increase on the previous year. (www.befesa.es).

Cepsa is a company dedicated to the world of energy with activities integrated and related with the oil and petrochemical industries. It is firmly established in Spain, and through the internationalization of its activities, is now also established in Portugal, Algeria, Brazil, Canada, Colombia, and Panama. Its products are marketed worldwide. Its activities include from the exploration and production of crude oil through to the marketing of refined oil and petrochemical products, and its investments in the natural gas and electricity sectors are ever-increasing. (www.cepsa.com)

Abengoa, a listed industrial and technology company with treasury stock in excess of 1,200 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 second largest bioethanol producer; Environmental Services, where it is the leader in Europe in certain segments of the industrial wastes market; Information Technologies, where it is one of the main role players on the international scene with operations in Europe, the Americas, and Asia; and Industrial Engineering and Construction, where it is the leader in Spain and Latin America. (www.abengoa.com).