The Spanish Exchange Trades 104 New Warrants Issued By Commerzbank - With These Issues, The Number Of New Warrants Traded On The Market This Year Stands At 1,202

The Spanish Exchange today began to trade 104 new warrants issued by Commerzbank. The incorporation of these issues brings the total figure to 1,953 warrants traded on the market, which are based on over 80 underlying assets. The new issues are linked to domestic and foreign shares and indices as well as exchange rates.

The Spanish shares that will act as the underlying assets for 29 warrants are as follows: Acerinox, Banco Popular, BBVA, Iberdrola, Indra, SCH, Sogecable, Telefónica, Unión Fenosa and Zeltia.

The foreign shares that will act as the underlying assets for 58 warrants are as follows: Alcatel, Arcelor, BMW, Continental, Deutsche Bank, Deutsche Telekom, E.ON, Enel, ENI, Fiat, France Telecom, Nokia, Pfizer, Porsche, Total, Vivendi Universal and Volkswagen. It is worth mentioning the incorporation, for the first time, of BMW, Continental, E.ON, Enel, Fiat, Porsche and Vivendi Universal as underlying assets.

As for the warrants on indices, 4 were issued on the IBEX 35® index, 3 on the DAX and 3 on the Nikkei.

As regards exchange rates, 7 issues were made on the Euro / Dollar exchange rate, of which 5 are call warrants and 2 put.

Among the issues are call and put warrants, with expiry dates in June, September and December 2006. All issues are American style, that is, they are exercised on the expiry date.