INFORMATION ABOUT ENAGAS

The state-owned industrial holding company Sociedad Estatal de Participaciones Industriales (SEPI) has a 5% participation in ENAGAS S.A. On November 21st, 2007 SEPI notified to the Spanish security and exchange commission, the Comisión Nacional del Mercado de Valores (CNMV) that it had reached a direct participation in ENAGAS, S.A. amounting to 5%, corresponding to 11,936,713 shares, meeting in this way that stipulated in article 82 of the Equities Market Act (Ley del Mercado de Valores).

The purchase by SEPI of shares in the company ENAGAS, S.A. has been made in application of the decision adopted by the Council of Ministers celebrated on July 20th, 2007 and which, according to the Administration Patrimony Act of 2003 (Ley de Patrimonio de las Administraciones Públicas) which authorized the acquisition, by purchase, of shares in the company carrier and System Technical Manager of the natural gas system. These shares represent up to 5% of its social capital, taking into account the public interest of the activities which the lawmaker attributes to ENAGAS. Equally, it stipulated that it should be SEPI who had to execute the above purchase.

The purchase of the above mentioned shares has been made gradually during the last few months in the market through an investment bank, UBS Investment Bank.