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10.27.2006

Befesa acquires one of Europe's major industrial waste recyclers

Madrid, October 27, 2006. - Today, Befesa Medio Ambiente, the parent company of Abengoa's environmental services business unit, acquired one hundred percent of the shares of the B.U.S. Group AB for 330 million euro. The acquisition, which is pending the corresponding authorization from the competence authorities, will be financed through a non-recourse loan that was also signed today with Barclays Bank.

B.U.S. is Europe's leading recycler of industrial wastes generated during the fabrication of common steel and stainless steel. Its treatment capacity is 600,000 tons per year and it possesses facilities in Duisburg and Freiberg, in Germany, Landskrona, in Sweden, and Fouquières and Gravelines, in France.

For 2006, B.U.S. expects to achieve sales of 185 million euro and EBITDA of 52 million euro. In addition, Befesa's expectations for billing in the 2006 trade year are 502 million euro, and 47 million euro in EBITDA.

According to Befesa's chairman and chief executive, Javier Molina, "the synergies between both companies will allow Befesa to enter markets in which it did not operate until now and become Europe's leader in industrial waste recycling. Therefore, Befesa is in a privileged position to undertake the expanding of these types of treatment processes to the new countries that are becoming members of the European Community. With the integration of B.U.S., Befesa's pro forma profit in the full year 2006 will have increased by 0.7 euro per share."

Befesa, Abengoa's environmental services subsidiary, focuses on providing environmental services for the industrial sector and on constructing environmental infrastructures. It is a listed company and closed the 2005 financial year with treasury stock in excess of 397 million euro and billing of 402.4 million euro. (www.befesa.es).

Abengoa is a technology company that applies innovative solutions for sustainable development in the infrastructures, environment and energy sectors. It is a listed company with treasury stock of 2,044.61 million euro (27/10/2006) and is present in more than seventy countries where it operates through its five Business Units; Solar, Bioenergy, Environmental Services, Information Technologies, and Industrial Engineering and Construction. (www.abengoa.com).