José Manuel Loureda and Manuel Raventós appointed members of the Repsol YPF Board of directors

Press Release 31/01/2007 00:00

The new Vicechairmen are Luís del Rivero and Jordi Mercader, nominated by Sacyr Vallehermoso and \"la Caixa\" respectively.
The General Shareholders Meeting appoints two new independent Board members, Luis Carlos Croissier and Ángel Durández.
Repsol YPF's net income reaches 3,124 million euros in 2006.
The gross dividend grew 20% reaching 0.72 euros per share.
Debt was reduced by 2.5% and financial charges by 33.2%.
Investments increase 54.4%, reaching 5,737 million euros.
Repsol YPF's advances in its Strategic Plan strengthen its competitive advantages.
The new growth areas (Gulf of Mexico, Caribbean and North Africa) and the liquefied natural gas (LNG) projects, in conjunction with the expanded capacity in the refining and chemical systems, will be the growth engines for the coming years.
Repsol YPF has been classified as the most transparent oil company in the World by the Dow Jones Sustainability World and Dow Jones STOXX Sustainability indexes.

Today, Repsol YPF's Board of Directors appointed Jose Manuel Loureda and Manuel Raventós as new board members, classified as institutional outside directors of Sacyr Vallehermoso and Caja de Ahorros y Pensiones de Barcelona "la Caixa", respectively.

Manuel Raventos, third vice chairman of "la Caixa", replaces Ricardo Fornesa, chairman of stated entity. José Manuel Loureda, Board Member of Sacyr Vallehermoso, replaces the outgoing independent outside director Ignacio Bayón.

In representation of the Board, Antonio Brufau, Chairman of Repsol YPF, welcomed the new board members and expressed its thanks to Ricardo Fornesa and Ignacio Bayón for their professional contributions during their tenure.

Mr. José Manuel Loureda Mantiñán

Civil Engineer, initiated his professional career at Ferrovial, where he attained the post of Deputy Director of Construcction. Founder of Sacyr, and CEO until the year 2000, and subsequently the chairman of the Board, was named chairman of the Group after the merger between Sacyr and Vallehermoso. Currently, he is member of the Board of Directors of Sacyr Vallehermoso, as well as chairman of Valoriza, a service company subsidiary of the group.

Mr. Manuel Raventós Negra

Agricultural Engineer by Escuela Técnica Superior de Ingenieros Agrónomos of Madrid, has an extensive professional curriculum noting his outstanding experience as third vice chairman of the Board of Directors of "la Caixa", vice chairman of the Board of AGBAR and chairman and CEO of Cava Raventós i Blanc. Additionally, he is Director of the Patronal Catalana Foment del Treball Nacional, Escuela Superior de Administración y Dirección de Empresas (ESADE) and Institució Cultural del CIC.