The Spanish Exchange Trades 152 New Warrants Issued By BBVA Banco De Financiación - With These Issues, The Number Of Warrants Traded On The Market Stands Now At A Record 2,563

The Spanish Exchange today began to trade 152 new warrants issued by BBVA Banco de Financiación. The new issues are linked to a wide range of underlying assets, including domestic and foreign shares and indices and exchange rates.

As to the warrants on Spanish shares, 43 were issued on the following underlying assets: Acerinox, BBVA, Gas Natural, Iberdrola, Inditex, Repsol, SCH, Sogecable, Telefónica and Unión Fenosa.

76 warrants were issued on the following foreign shares: Alcatel, AXA, Bayer, BNP Paribas, Daimler Chrysler, Deutsche Bank, Deutsche Telekom, E.On, France Telecom, ING, Nokia, Sanofi-Aventis, Siemens, Total Fina and Unicrédito.,

Regarding domestic indices, 6 warrants were admitted to trading on the IBEX 35® and 4 on the international DAX. 3 warrants were issued on the international Dow Jones Industrial Average.

As to warrants on exchange rates, 20 were issued, of which 10 were linked to the Euro / Dollar, 5 on the Euro / Yen and 5 on the Dollar/Mexican Peso.

Among the issues are call and put warrants, with expiry date in June 2007, except the warrants issued on exchange rates, the expiry date of which is March 2007. All issues are American style, that is they are exercised on the expiry date.