BEFESA

The share capital of Befesa Medio Ambiente, S.A. amounts to 81,611,571.79 euro, represented by 27,113,479 shares, each with a 3.01 euro face value. The share capital is fully subscribed and paid up.

All the shares have the same political and economic rights and are listed on the Madrid and Bilbao Stock Exchanges, and incorporated in the Stock Exchange Interconnection System (Continuous Market).

The company’s most significant shareholders are:

• Proyectos de Inversiones Medioambientales, S.L. ........................................................ 83.344 %
• Abengoa, S.A. ........................................................................................................................ 14.036 %

Share Capital evolution:

Share Capital evolution

Date last modification	Number of share	Share capital (€)
21.06.01	27,113,479	81,611,571. 79

On January 25, 2001, the Board of Directors resolved to change the share capital to euro, with the same being established at 69,324,152.80 euro represented by 23,031,280 shares, each with a face value of 3.01 euro.

The General Shareholders’ Meeting of June 21, 2001 resolved to increase the share capital by 12.287.418,99 euro through the issuing of 4,082,199 new shares, each with a face value of 3.01 euro. As a consequence of said increase, the share capital was established at the current figure of 81.611.571,79 euro, represented by 27.113.479 shares, each with a face value of 3.01 euro.

Parasocial agreements

The company has no knowledge of the existence among its shareholders of any parasocial agreement or syndication agreements in force.

Treasury Stock

The company does not possess its own shares as treasury stock, nor has it purchased any of its own shares. The Ordinary General Shareholders’ Meeting of April 15, 2009, have resolved to authorize the Board of Directors to make derived acquisitions, through purchases of shares in the company that may be made either directly, or through subsidiaries or investees up to the maximum limit specified in the provisions in force at a price of between 1 euro minimum and 100 euro maximum per share.

The period in which use could be made of this authorization was established at eighteen (18) months as of from that very date, subject to what is specified in Section Four of Chapter IV of the Revised Text of the Spanish Companies Act. To date, the Board of Directors has not made use of the afore-mentioned authorization.

15 April 2009

15 April 2009
15 April 2009