Bolsa de Madrid's IGBM Index New Composition For First Half 2006

The Indice General de la Bolsa de Madrid (IGBM) Management Committee has decided, in accordance with technical provisions for the composition, calculation and sectorial division of the IGBM index family, to approve the composition of the IGBM and Indice Total indices for the first half of 2006.

Based on trading volume and market capitalisation criteria, the new composition of the IGBM is as follows: the index is to add 3 stocks while 4 will be excluded from the index. The IGBM and Indice Total will comprise 115 shares during the first half of 2006.

The index inclusions and exclusions are as follows:

STOCKS EXCLUDED FROM THE INDEX

• Aldeasa, delisted on 12 December 2005.
• Amadeus, delisted on 16 December 2005.
• Cortefiel, delisting approved at EGM on 29 September 2005
• Transportes Azkar, delisting approved at EGM on 15 November 2005

STOCKS INCLUDED IN THE INDEX

• Corporación Dermoestetica, admitted to trading on 13 July 2005
• Informes y Proyectos (INYPSA), having met listing requirements
• Befesa, having met listing requirements

Prim has been switched from “Other consumer goods” subsector to “Pharmaceutical Products and Biotechnology”.

Definitive weightings of sectors, subsectors and stocks will be made public on the Bolsa de Madrid website, (www.bolsamadrid.es), after the closing of the market, on 30 December 2005.<