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The National High Court decrees the annulment of proceedings and dismissal of the Xfera case

January 29, 2007

Sevilla, 29th January, 2007.- In relation to the proceedings followed by the Central Criminal Section 4 of the National High Court against the members of the Board of Directors of Abengoa, S.A., Mr Felipe Benjumea Llorente, Mr Javier Benjumea Llorente, Mr José Joaquín Abaurre Llorente and Mr José Luis Aya Abaurre, against the General Secretary Mr Miguel Ángel Jiménez-Velasco Mazarío, and against the current Chairman of Telvent Git, Mr Manuel Sánchez Ortega for an alleged offence of improper management under article 295 of the Criminal Code, as a result of the purchase of the shares in Xfera by Telvent, the company makes known its satisfaction for the decision of the National High Court of decreeing the annulment of the proceedings and dismissal of the case by accepting the cases presented by the defence attorney, coordinated by the office of the professor Mr Matías Cortés, by means of the Court´s Ruling dated 25th January, 2007, notified today, from which it is deducted that there are not the necessary elements for the existence of offence.

The Judge has considered, as we suggested, that the charge for improper management is not upheld from a proceedings point of view because the commission of this offence requires, necessarily, the charges brought by any person, as established in article 296 of the Criminal Code and there is no charge in this case.

The Company wishes to highlight the fact that the decision made by the competent jurisdictional body, as reasoned in legal ground number one of the ruling, is based on the non-existence of any party that has suffered damage, which is completely consistent with the thesis maintained by the Company in relation to the non-existence of damages for Abengoa or for Telvent, since, in light of the resolution passed by the Ordinary General Meeting of the Shareholders of Abengoa on 9th April 2006, no damage whatsoever has arisen or will arise, which means that the purchase of the aforesaid shares in Xfera by Telvent, approved by its Board of Directors, will in any case be beneficial to Abengoa and, therefore, it has nothing to claim in the proceeding in the Criminal Section of the National Court. Thus, the indemnity contract signed with Inversión Corporativa dated 27th October 2000, and reported to the National Securities Market Committee together with the rest of the documentation on 24th January 2003, and referenced in the Relevant Event of 7th February 2003, guaranteed compensation for any damages that might be generated.

Now, the most important thing is going on working in the same way we have kept until the moment, with the purpose of keeping on creating value for the shareholders of Abengoa.

Telvent, one of the five business units of Abengoa, is a company historically interested on investing in the area of Information Technologies. Proof of its interest in this project is that, at the present time, it continues being shareholder of the company instead of purchasing its shares.

Abengoa is a technology company applying innovative solutions for sustainable development in the infrastructures, environment and energy sectors. Abengoa is quoted on the Stock Exchange with a share capital of 2,668.86 million euro (29.01.07) and is present in more than 70 countries, in which operates with its five Business Groups: Solar, Bioenergy, Environmental Services, Information Technology and Industrial Engineering and Construction. (

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