Repsol

Carmelo de las Morenas López

Member of the Audit and Control Committee

Independent Outside Director

Sevilla, 1940. Ba in Economics and Law. Started Career In Arthur Andersen & Co. Subsequently General Manager of the Spanish Subsidiary of the Deltec Banking Corporation and Chief Finance Officer of Madridoil and Transportes Marítimos Pesados. Joined Repsol Group in 1979 holding different Management Positions. In 1989 he was appointed Chief Financial Officer, up to the end of his career in the company. Up to 31 December 2005 was member of the Standard Advisory Council of IASB. Currently he is Chairman of Casa de Alguacil Inversiones SICAV, S.A., Director of the Britannia Steam Ship Insurance Association, Ltd., Orobaena S.A.T. and Faes Farma, S.A.

Mr. Carmelo was appointed as Director of Repsol YPF, S.A. by resolution of the Board of Directors on 23rd July, 2003, subsequently ratified by the Annual Shareholders Meeting hold on 31st March, 2004 and re-elected by the Annual Shareholders Meeting on May 9th, 2007.