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Cooperation Agreement between Ford Spain and Abengoa Bioenergy

September 28, 2006

Madrid, September 28, 2006. – Ford Spain and Abengoa Bioenergy have announced today that they’re entering into a cooperation agreement in order to develop the Ford vehicle market with flexible engines (“FFV”) in Spain that use biofuel “Bioethanol E85” (85% bioethanol, 15% gasoline) manufactured by Abengoa Bioenergy. The agreement establishes an interaction between the two companies for the development of the flexible vehicle market and of the E85.

As a key issue, it will allow, among others, the creation of an E85 distribution network to be supplied throughout Spain such as it happens in Sweden where 80% of the Focus and C-MAX Ford vehicles use E85 as daily fuel and where it is available in more than 500 gas stations.

Bioethanol is a fuel which energy is renewable, clean and ecological which represents a strong alternative instead of the traditional fossil fuels and that Abengoa Bioenergy has been manufacturing and marketing in Europe since 1999 with a production capacity to supply the flexible vehicle market in Spain.

The current development related to the production of bioethanol and flexible vehicles, as well as the support from official bodies, will allow this project to encourage the use of bioethanol as alternative energy instead of the fossil fuels, and it will coordinate all automobile manufacturers, bioethanol manufacturers and fuel distributors to implement a supply network which is going to be developing as the number of (“FFV”) flexible vehicles raises.

The flexible engines manufactured by Ford in its factory located in Valencia, use E85 or gasoline in the same way without affecting the vehicle performance which will allow a gradual introduction of E85 in the marketplace.

Both parties will enter into joint cooperation agreements with private companies, Municipalities, Autonomous Communities or other organizations located in the main Spanish cities, thus participating of a search and agreements with fuel or oil products distributors who have gas stations or are interested in installing supply centers. In order to reach this goal, Ford and Abengoa Bioenergy have contracted the services of the company Atisae-Automovilidad with the purpose of making a study on the implementation of the E85 in Spain.

Abengoa Bioenergy is a technological company that applies innovating solutions for the steady development in the areas of infrastructures, environment and energy. Abengoa Bioenergy is the first European manufacturer, fifth in the U.S.A, and the only world manufacturer of bioethanol with more than 1000 “MI/y” of total installed capacity. In Spain, Abengoa Bioenergy has three plants of bioethanol, with an installed capacity of 500 “MI/y”. Furthermore, it’s building a demonstration plant of 5 “MI/y” in order to develop a technology for the conversion of lignocelluloses biomass in bioethanol."

Abengoa is a technological company that applies innovative solutions for sustainable development in the infrastructure, environment and energy sectors. It is a listed company with treasury stock of 1,909.81 million euro (27/09/2006) and is present in more than 70 countries where it operates through its five Business Units; Solar, Bioenergy, Environmental Services, Information Technologies, and Industrial Engineering and Construction.

Ford has manufactured and supplied more than 30,000 flexible Ford Focus in the Swedish marketplace successfully in relation with the environmental and technological satisfaction. Spain is the second market in Europe where the expansion of this new technology is going to take place, with smart engines at competitive prices with guarantee and coverage of service as any Ford vehicle, and that, while using the ecological fuel E85, is reaching the lowest level of emission of CO2 in the market, as the complete fuel life cycle gets the CO2 from the atmosphere for the growth of plants which finally turns into the energy that will start the vehicle.

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