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Modification to the Agreement to benefit the liquidity of the shares.

January 16, 2008

Comisión Nacional del Mercado de Valores
Paseo de la Castellana, 19
28043 Madrid

Ref. Hechos Relevantes

Seville, January 16, 2007

Dear Sirs,

Reference is made to our Relevant Event of November 19, 2007 (number of record 86.324), regarding the Agreement signed with Santander Investment Bolsa, S.V., to benefit the liquidity of the shares, the regularity of the Stock Market price and the avoidance of fluctuations caused for reasons different from the proper market tendencies in strict compliance with the Stock Exchange regulation, we are hereby pleased to announce you that, in accordance with the recent Circular 3/2007 dated December 19, 2007 about Liquidity Contracts, and specifically with the letter d) of the 2nd paragraph of its Article Fourth, the Company has signed today a novation in the above-referred Agreement, (i) modifying the number of shares that can be negotiated under this Agreement up to a maxim of 2.714.090 (equivalent to the 3% of the Capital Stock) and (ii) establishing a limit in the negotiable cash of 62.400.000 €

Yours sincerely,

Miguel Ángel Jiménez-Velasco Mazarío
General Counsel

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