Repsol

Information regarding the General Shareholders Meeting and the resolutions

Repsol YPF, S.A. held its Ordinary General Shareholders Meeting on May 14th, 2008, on second call, at Palacio Municipal de Congresos, Avenida de la Capital de España-Madrid, without number, Campo de las Naciones. The number of shareholders who attended or were represented in the meeting was 45,509, holding a total of 849,528,170 shares, that represent 69.5842 % of the Companys share capital. The Chairman and Chief Executive Officer of Repsol YPF, Mr. Antonio Brufau Niubó, after declaring the existence of quorum, informed shareholders of the Company’s most relevant events happened on the 2007 fiscal year ended. Following the presentation, a question and answer period began with the Chairman answering to shareholders queries. Once this period finished, the shareholders voted the proposals of resolution submitted by the Board of Directors concerning each of the items of the Agenda. The vote to the proposals of resolution corresponding to each of the items of the Agenda was the following:

Resolutions		Number of shares	Over the share capital attending the meeting
1. Approval of the Annual Financial Statements and the Management Report of Repsol YPF, S.A., of the Consolidated Annual Financial Statements and the Consolidated Management Report, for the fiscal year ended 31st December 2007, of the proposal of application of its earnings and of the management by the Board of Directors during said year.	In favor	674,512,657	99.964
	Against	20,024	0.003
	Abstained	220,068	0.033
2. Amendment of the second paragraph of Article 49 (Annual Accounts) of the Articles of Association.	In favor	674,627,489	99.981
	Against	33,615	0.005
	Abstained	91,645	0.014
3.1. Ratification and appointment as Director of Mr. Isidre Fainé Casas	In favor	674,510,388	99.964
	Against	156,925	0.023
	Abstained	85,436	0.013
3.2. Ratification and appointment as Director of Mr. Juan María Nin Génova.	In favor	674,298,211	99.933
	Against	373,446	0.055
	Abstained	81,092	0.012
4. Re-election of Deloitte, S.L. as the Accounts Auditor of Repsol YPF, S.A. and of its Consolidated Group.	In favor	674,534,112	99.968
	Against	24,533	0.004
	Abstained	194,104	0.029
5. Authorisation to the Board of Directors for the derivative acquisition of shares of Repsol YPF, S.A., directly or through controlled companies, within a period of 18 months from the resolution of the Shareholders Meeting, leaving without effect the authorisation granted by the Ordinary General Shareholders Meeting held on May 9, 2007.	In favor	674,548,664	99.970
	Against	34,552	0.005
	Abstained	169,533	0.025
6. Delegation of powers to supplement, develop, execute, rectify and formalize the resolutions adopted by the General Shareholders' Meeting.	In favor	674,631,791	99.982
	Against	24,786	0.004
	Abstained	96,172	0.014