Barcelona Stock Exchange 2011 Barcelona Stock Exchange fact sheet Passeig de Gràcia, 19. 08007 Barcelona Phone (34) 93 401 35 55. Fax (34) 93 401 36 95 Internet: www.borsabcn.es E-mail: informacion@borsabcn.es
fact sheet 2011 Dades General generals data History Board of Directors The roots of the Barcelona Stock Exchange go back to the Middle Ages with the emergence of commodity exchanges at the time of the Commercial Revolution in Catalonia. The "Ordinacions" promulgated by King James I in 1271 is the oldest and most complete text regulating the role of the mercantile mediator. Towards the middle of the nineteenth century, with the industrial boom and the birth of the first Catalan corporations, the trading of securities was started, with an active market in Barcelona where the role of the mediators was carried out by "Corredores Reales", forerunners of the later "Agentes de Cambio y Bolsa" (stockbrokers). Chairman: Directors: General Manager: Employees: 56 Joan Hortalà i Arau Fernando Cánovas Atienza Pablo Cigüela Ibáñez Pedro Estruch Jané Enrique García Palacio José Luis Negro Rodríguez Pedro Perelló Pons José Mª Antúnez Xaus Organization and operation The Official Stock Exchange was created in 1915, its government and administration being entrusted, until 29 July 1989, to the "Colegio de Agentes de Cambio y Bolsa" (Stockbrokers Association). With the coming into force of Stock Market Act 24/1988 on 29 July 1989, the Barcelona Stock Exchange came under the control of the "Sociedad Rectora de la Bolsa de Valores de Barcelona, S.A.U.". In 2002 the Barcelona Stock Exchange, along with Iberclear and the other Spanish markets, formed the Bolsas y Mercados Españoles Group (BME). The organisation and members of the Barcelona Stock Exchange. A network at the service of investment. Members 31 Securities Companies 19 Credit Entities 10 Securities Agencies 2 2 3
4 Type of market Interconnected Stock-Market System Computer-assisted trading for stocks integrated in the Interconnected Stock-Market System by means of the SIBE. This system gives equal access to all members of the Spanish Stock Exchanges, to a single national market. More than 95% of the total volume traded on the Spanish stock markets is negotiated in this system. Trading hours: The most liquid shares are traded continuously from 09:00 to 17:30, with an opening auction between 08:30 and 09:00 and a closing auction from 17:30 to 17:35. Less liquid shares are traded via a system based on two daily fixing at 12:00 and 16:00. Warrants A specialised segment of the Interconnected Stock- Market System reserved for the trading of warrants, certificates and other products. Trading hours: from 9:00 h. to 17:30 h. Exchange Traded Funds (ETFs) A special segment of the Interconnected Stock Market System dedicated to the trading of Exchange Traded Funds (ETFs). Trading hours: There is an opening auction between 8:30 and 09:00 h. After this auction, there is a continuous trading from 09:00 to 17:35 h. Floor trading Electronic trading in stocks not integrated in the Interconnected Stock-Market System, included the Barcelona Stock Exchange Second Market for small and medium - sized corporations. Trading hours: First auction period: from 8:30 h. to 12 h. First assignment of prices: 12 h. Second auction period: from 12 h. a 16 h. Second assignment of prices: 16 h. Stock Market system for fixed income and public debt Electronic trading of fixed income and public debt within the Stock Market system. Trading hours: from 9 h. to 16:30 h. Catalonian Public Debt Market Telephonic trading, assisted by screens with information on Catalonia Public Debt. Forms of trading are identical to those available on the market of entries in the CADE (Central de Anotaciones de Deuda del Estado) and all technical procedures have been developed along the same lines. Parallelly to the phone trading system there is a complementary electronic trading system where simple transactions can be carried out. Trading hours: Telephonic trading: 9 h. to 17 h. Electronic trading: from 9 h. to 16:30 h. Mercado Alternativo Bursátil (MAB) A Multilateral Trading Facility provided for the trading of securities that, due to the particular legal conditions the issuers are subject, or due to their size or special characteristics, require specific treatment for their trading, clearing, settlement and registration. Currently the MAB has three distinct securities trading segments: Investment Companies with Variable Capital (SICAV) and hedge funds in the form of companies (SIL) segment. Risk capital segment. Growing companies segment. Latin-American Market A Multilateral Trading Facility for shares issued by entities based in Latin-American countries and previously listed on a Latin-American Stock Exchange. Trading hours: Opening auction: From 8:30 h. to 11:30 h. Continuous trading: From 11:30 h. to 17:30 h. Options and futures market All Barcelona Stock Exchange members have access to the options and futures market on variable income. Products traded: options and futures on stock indices and shares. Trading hours: From 9:00 h. to 17:35 h. Trading Trading days Monday to Friday 2011 featured, 257 trading days. Public holidays in 2012 April 6 April 9 May 1 December 25 December 26 Transactions All operations are cash transactions, although creditbased operations are allowed in the case of certain stocks. Trading on credit In accordance with the Ministerial Order of 25/3/1991 and the rules established by the Barce- 5
6 lona Stock Exchange, once the investor has provided a cash guarantee of 25% of the total amount involved in the transaction, Securities and Stock Exchange Companies as well as other financial institutions may grant a credit in cash in the case of purchases, and a loan of share certificates in the case of sales, against payment of interest. Credit may be granted for up to three and a half months. Trading on credit may only be done for a minimum cash value of 1,200 euros. The Barcelona Stock Exchange accepts trading on credit for 36 of the most important stocks. Settlement Settlement of daily transactions is carried out three working days later. Stock market indices BCN Global -100 Index This is the official index of the Barcelona Stock Exchange. It is a trade-weighted index, made up of the 100 most traded companies on the Barcelona Stock Exchange. Date and base: 1-1-1986 = 100. BCN Profit-30 Index This is a Barcelona Stock Exchange index composed of the shares of the 30 most profitable companies in the IBEX 35. The index is calculated by weighting each equity according to the quarterly profits declared by the companies concerned. Date and base: 1-1-2001 = 10,000. BCN PER-30 Index This is a Barcelona Stock Exchange index composed of the shares of the 30 lowest price/earning ratio (PER) companies, in the IBEX 35. The index is calculated by weighting each equity according to the PER. Date and base: 1-1-2001 = 10,000. BCN ROE-30 Index This is a Barcelona Stock Exchange index composed of the shares of the 30 highest earning/equity ratio (ROE) companies, in the IBEX 35. The index is calculated by weighting each equity according to the ROE. Date and base: 1-1-2001 = 10,000. BCN MID-50 Index This is an index on the Barcelona Stock Exchange, which is representative of the average segment of the Spanish stock market. It is a simple index comprising the 50 companies included in the IBEX MEDIUM CAP and IBEX SMALL CAP Indices. Date and base: 1-1-1994 = 4,000. BCN INDEXCAT Index This is a Barcelona Stock Exchange index composed of the shares of the 15 Catalonia-based listed companies with the highest stock market capitalisation adjusted for floating capital. The index is weighted by capitalisation. Date and base: 1-1-2001 = 10,000. Spanish Stock Exchanges Index IBEX 35 This is the official index for the continuous market of the Spanish Stock Exchanges. It is an index weighted by market value, made up of the 35 most traded companies on the continuous market of the four Spanish Stock Exchanges. Date and base: 1-1-1990 = 3,000. FTSE Latibex Top Index This is the Latin-American Stock Market index, weighted according to the market value of the main companies listed. Date and base: 12-30-2002 = 1,000. Tax system Dividends and Attendance Bonus Dividends, Attendance Bonus and participations in profits will be considered as returns from the securities portfolio and will be included, in general terms, in the personal Income Tax savings base, with a tax payment at the rate of 19% and 21% depending on the amount concerned. Where dividends distributed by resident companies are concerned, the deduction for double taxation is eliminated and an exemption is foreseed for these dividends and participations in profits with a limit of 1,500 euros per year. This exemption will not be applicable in the case of dividends and participations in profits distributed by collective investment institutions, Nor to those arising from securities listed on any one of the official secondary stock markets defined in Directive 2004/39/CE, of the European Parliament and Council, of 21 April 2004, relating to the financial instruments markets, acquired within the two months prior to the date that they would have been settled when, after this date but within the same period, there is a transmission of homogeneous securities. A 19% retention at source on the gross dividend, to be deducted from the personal income tax quota. Interest In general terms, interest will be included in the savings tax base, with a tax payment at the rate of 19% and 21% depending on the amount concerned. 7
8 Saving exceptions, a 19% retention at source on the total amount received, to be deducted from the personal income tax quota. Capital gains and losses Capital gains and losses derived from the transmission of shares and holdings will be included in the personal Income Tax savings base, without regard to the period in which they were generated, with a tax payment at the fixed rate of 19% and 21% depending on the amount concerned. Likewise, capital gains arising from the transfer or reimbursement of equity or holdings in investment funds are taxable at 19% and 21% depending on the amount concerned. Negative balances derived from the transmission of shares and holdings will be compensated exclusively against the positive balances of these transmissions. In the event that the balance continues to be negative, it may be compensated against positive balances derived from the transmission of shares and holdings generated over the following four years. Capital gains or losses arising from the transfer or reimbursement of shares and holdings in investment funds, in certain cases will not be included in personal income tax if the amount obtained is reinvested in the purchase of other shares or holdings in investment funds. The new shares or Holdings acquired will retain the same value and purchase date as the shares and participations transmitted or refunded. This system of deferral does not apply when, by whatever means, the amount derived from the refund or transmission of shares of collective investment institutions is put at the taxpayer s disposal. Nor does the previously mentioned system of deferral apply when the transmission or purchase has as its object, representative participations in the assets of collective investment institutions treated as Exchange Trade Funds. Capital gains arising from the transfer or reimbursement of equity or holdings in investment funds will be subject, in general, to a 19% retention at source, with the exception of those derived from the refund or transmission of participations in Exchange Traded Funds. In some cases the party having to make this payment on account of 19% of gains will be the shareholder or participant carrying out the transfer or the reimbursement. International double taxation. Taxation is established by the existence of a Double Taxation Treaty between Spain and the investor s country of residence, and also upon the various possible exemptions that feature in the internal regulations. The investor must always demonstrate their condition as resident. Nevertheless, it is important to point out that the Law of Income Tax for Non-Residents classifies as tax free income that resulting from the transfer of equities or the reimbursement of holdings in investment funds carried out in one of the official Spanish secondary markets obtained by non-residents or foreign companies not permanently established in Spanish territory, by residents of a country that has signed an agreement with Spain to avoid double taxation and with a clause on information exchange. In the majority of treaties signed by Spain, the final taxation in the country of origin is of 15% in the payment of dividends and of 10% to 15% in the payment of interest. Independently of the above, Spanish law establishes a tax exemption, with a limit of 1,500 euros, for dividends and participations in profits obtained by companies not permanently established in Spanish territory or by residents in other European Union member states or countries or territories where there is information exchange. Under no circumstances will the mentioned exemptions be applied when the yields are obtained through tax havens. Value-added tax and capital transfer tax exemptions Transfers of securities - independently of whether such securities are listed in an official secondary market - are exempt from Capital Transfer and Transactions Evidenced by Legal Documentation Tax as well as from Value-Added Tax, save specific exceptions foreseen legally which entail real-estate transfers. Wealth Tax Through Royal Decree-Law 13/2011, of 16 September, Wealth Tax has been returned to the Spanish tax system for the limited period of the financial years 2011 and 2012 1. The restoral of Wealth Tax implies the obligation to declare at the end of the financial year all assets and rights held by the taxpayer and subject to taxation under such Tax. Pursuant to the provisions of the Wealth Tax 19/1991, of 6 June, los fixed-rate securities, equity securities and stakes in investment funds must be valued pursuant to the following rules: - Fixed-rate securities: Any securities representing the assignment to third parties of equity (Treasury bills, bonds and debentures, inter alia), will be calculated based on their average trading value for the fourth quarter each year. 1 In the Regions of Madrid, Valencia and the Balearics, a 100% tax break exists in respect of Wealth Tax meaning the taxpayer does not have to make any payments whatsoever in respect of this Tax. 9
10 - Equity securities: Any securities representing a stake in the equity of any undertaking admitted to training on organised markets, except for Collective Investment Institutions, which will be calculated according to their average trading value for the fourth quarter each year. - Collective Investment Institutions: Any securities representing a stake in the share capital or endowment of Collective Investment Institutions, will be calculated according to their net asset value on the accrual date of the Tax (31 December). Règim Rules for de foreign la inversió estrangera investment Foreign investment in Spain is currently regulated by Royal Decree (R.D.) 664/1999, of 23 April, on foreign investment. Subjects of foreign investment The owners of foreign investments in Spain may be persons not resident in Spain and private legal entities with their head offices abroad. Foreign investments in Spain may be carried out through: - Holdings in Spanish companies. - The opening or expansion of a branch office network. - The subscription to and the acquisition of tradable securities in representation of loans issued by residents. - The participation in investment funds, put down in the Register files of the Comisión Nacional del Mercado de Valores. - The acquisition of real estate in Spain. - The constitution, formalisation or participation in contracts of joint venture accounts, foundations, groups formed with an economic motive, cooperatives and owners associations. Restriction on foreign investment Foreign investment in Spain and its settlement is deregulated, though this deregulation may be suspended in the following circumstances: - The Council of Minister may decide the suspension of general deregulation measures in the event that the investments affect activities related to the exercise of public power, public order, security and public health. In this case it is necessary to request prior administrative authorisation. - Activities directly related to National Defence require prior administrative authorisation in addition to coming under special conditions. - There are also special conditions that affect foreign investment in Spain in matters of air transport, radio, minerals, mineral raw materials of strategic interest and mining rights, television, gambling and telecommunications. Declaration of foreign investments in Spain and its settlement Foreign investments in Spain and their settlement must be declared to the Register of Investments of the Ministry of Economy and Finance, for administrative, statistical or economic purposes, with the exception of investments derived from territories or countries considered to be tax havens, that must be previously declared, except, in so far as is relevant here, when the investments have been made in tradable securities previously issued or offered publicly in an official secondary market. A special Stock Exchange registry is not required. Declaration of investment and settlement is obligatory: - As a general rule for non-resident holders of the investment. - In special cases: When concerning investments made in tradable securities, for investment service companies, credit entities, other authorised financial entities or entities whose involvement is required for the subscription or transmission of securities, or who act as depositories or administrators of the securities acquired. For the Spanish issuing company in the case of registered shares. For companies managing investment funds in the case of investment operations with Spanish investment funds. Protector The Investors de l inversor Ombudsman The person appointed by the Barcelona Stock Exchange to protect and safeguard the rights and legitimate interests of investors and process any complaints made in relation to the operations carried out on the Barcelona Exchange against the Exchange itself or the Companies and Stockbrokers who are members. 11
BCN INDEXCAT Base 1-1-2001 = 10.000 900,00 This is calculated daily, in real time. 850,00 800,00 2011 in figures On 12-30-2011 = 11,627.00 Spanish stock exchanges indices IBEX 35 Base 1-1-1990 = 3,000 750,00 700,00 650,00 600,00 550,00 500,00 30/12/10 14/1/11 29/1/11 13/2/11 28/2/11 15/3/11 30/3/11 14/4/11 29/4/11 14/5/11 29/5/11 13/6/11 28/6/11 13/7/11 28/7/11 12/8/11 27/8/11 11/9/11 26/9/11 11/10/11 26/10/11 10/11/11 25/11/11 10/12/11 25/12/11 Índexs Barcelona de la Stock Borsa de Exchange Barcelona indices BCN Global-100 Base 1-1-1986 = 100 BCN PROFIT-30 Base 1-1-2001 = 10,000 This index, together with the IBEX MEDIUM CAP and IBEX SMALL CAP indices, is calculated daily, in real time. On 12-30-2011 = 8,566.30 FTSE Latibex TOP Base 30-12-2002 = 1,000 2011 BCN GLOBAL-100 Listing changes (number of issuers) New listings 6 Exclusions 5 A general index and nine sectorial indices are calculated daily, in real time. Year low: 571.49 (09/12) Year high: 862.80 (02/17) 03/31/2011: 812.48 06/30/2011: 789.64 09/30/2011: 647.83 12/30/2011: 649.00 BCN Global-100 Yearly Base 1-1-2011 = 100 This is calculated daily, in real time. On 12-30-2011 = 10,433.63 BCN PER-30 Base 1-1-2001 = 10,000 This is calculated daily, in real time. On 12-30-2011 = 15,947.89 This is calculated daily, in real time. On 12-30-2011 = 4,560.10 Activitat Activity of del the mercat stock borsari market Listed securities Market value Million euros Catalonia Public Debt and other Public Funds 19,402 Debentures 7,117 Shares 499,171 Total 525,690 12 A general index and nine sectorial indices are calculated daily, in real time. On 12-30-2011 = 86.38 BCN Global-100 Historic Base 1-1-1963 = 100 A general index and eight sectorial indices are calculated daily. On 12-30-2011 = 1,668.04 BCN ROE-30 Base 1-1-2001 = 10,000 This is calculated daily, in real time. On 12-30-2011 = 13,314.03 BCN MID-50 Base 1-1-1994 = 4,000 This is calculated daily, in real time. On 12-30-2011 = 11,968.61 Fixed income: Catalonia Public Debt and other Public Funds 55 Debentures 97 Variable income: Shares 133 Listed Corporations 154 Market Valor de value les noves of new admissions listings Million euros Public Funds 8,480 Debentures 1,525 Shares 8,370 Total 18,375 13
New capital issues Stock Exchange ratios 12-30-2011 Number of new capital issues 30 For cash 8 Scrip issues 22 10 9 8 7 For cash 2,771 Million euros Scrip issues 631 Million euros 6 5 4 14 Volum Trading negociat volume Effective Million euros Catalonia Public Debt and other Publics Funds 64,134 Debentures 3,742 Shares 211,406 Total 279,282 24% 76% Variable Income 211,406 Fixed Income 67,876 3 2 1 0 PER Div/P % Sector P/E Yield Electricals 8.37 4.15 Banks 5.39 8.99 Chemicals 12.04 3.97 Cement, Building and Real Estate 9.45 5.53 Iron and Steel 11.85 3.53 Food, Agric. and For. 19.44 4.37 Textiles and Paper 21.59 2.58 Trade and Finances 9.07 6.28 Service and Sundry 12.28 9.83 General Barcelona Stock Exchange 9.25 7.94 Societats Largest corporations de major according capitalització to their market value (Million euros) 1 Telefónica 61,089 2 Banco Santander 50,290 3 Industria de Diseño Textil INDITEX 39,444 4 Banco Bilbao Vizcaya Argentaria 32,753 5 Repsol YPF 28,977 6 Iberdrola 28,465 7 Endesa 16,781 8 CaixaBank 14,573 9 Gas Natural SDG 13,155 10 Abertis Infraestructuras 9,576 11 Mapfre 7,560 12 ACS Actividades de Construcción y Servicios 7,206 13 Ferrovial 6,840 14 Bankia 6,229 15 Amadeus It Holding 5,610 16 Banco Popular Español 4,931 17 Red Eléctrica Corporación 4,473 18 Acciona 4,241 19 Banco de Sabadell 4,081 20 Zardoya Otis 3,889 Societats Most traded major contractació corporations (Million euros) 1 Telefónica 53,731 2 Banco Santander 45,682 3 Banco Bilbao Vizcaya Argentaria 27,460 4 Repsol YPF 18,126 5 Iberdrola 11,979 6 Industria de Diseño Textil INDITEX 10,289 7 Abertis Infraestructuras 2,644 8 CaixaBank 2,420 9 Ferrovial 2,305 10 Gas Natural SDG 2,175 11 Red Eléctrica Corporación 2,043 12 Amadeus It Holding 1,988 13 Enagás 1,644 14 Banco de Sabadell 1,593 15 ACS Actividades de Construcción y Servicios 1,523 16 Banco Popular Español 1,430 17 Bankia 1,265 18 Acciona 1,116 19 Mapfre 1,068 20 Gamesa Corporación Tecnológica 1,055 15
Barcelona Stock Exchange services and products Trading assistance The Barcelona Stock Exchange has an integral communications network which allows its members access to the following markets: -Interconnected Stock-Market System. - Fixed Income and Public Debt Trading System. - Options and Futures market (variable income). Settlement, deposit and back-office services The Barcelona Stock Exchange also provides services in the following areas: - Clearing and Settlement Systems (SCLBARNA). - Deposit Management Service (SGD). - Administration systems. Transmission of book entries. Control of issuers financial operations. Transaction register. Shareholder register. Accounting register of non-listed shares, etc. nomic and financial information, forecasts and consensus of all equities included. In addition, it provides real time news from the most prestigious national and international agencies. The NetStation platform has a powerful built-in professional Technical Analysis tool with more than 40 indicators and oscillators. Web Terminal. This service, aimed at non-professional investors, is based on the new Rich Internet Application concept and supports the latest FLEX technologies that allow the reception of information in real time with the same power and reliability as conventional terminals. Without the need to install any new applications on their computer, the user can receive automatically updated information on the Spanish Continuous Market, the main international indexes, the Spanish futures market (MEFF), the German futures market (Eurex) as well as currencies and news. Web Terminal also features a chart analysis tool and allows user customisation of pages and portfolios. 16 Parquet The Electronic Electrònic Trading Centre Centrally located and equipped with the most advanced technology, the Electronic Trading Centre is the new gateway to the major national and international markets, as well as a point of reference for broker-dealing and channelling investments, since it permits simultaneous trading on a large number of markets, as well as the direct interaction of investors. Contractació Trading and settlement i liquidació Order routing service (SGO) A routing system (with automatic interface with the SIBE), allowing Stock Exchange members computerized reception, transmission and confirmation of orders to be traded on the continuous market and the traditional floor. It also features a system for publication and matching of deals, as well as real-time information on market prices and trading volume. Information available All Information concerning the Barcelona Stock Exchange and other Spanish and International markets is available via the services provided, according to the agreements reached with Infobolsa. NetStation. This platform provides real time information on the most relevant national and international variable income, fixed income, derivatives, commodities, money markets, currencies and investment funds. This service also provides eco- World Integrated Feed (WIF) Data Flow. A digital data flow is available to clients whereby they can receive and process financial information from the national and international markets in either real time, delayed or at close of trading, via a single connection. ASP Services. Make it possible to insert financial information components or tools (tickers, national and international markets tables, advanced graphics, real time or delayed user portfolio updates, currency calculators, etc. into any webpage. All components and tools inserted do not affect the corporate image of the webpage in question. 17
Mobile Devices. This service makes it possible to offer end users real time, recorded or close of trading updates on the share prices of equity traded on the national and international markets via mobile devices and/or terminals with i-mode technology (mobile phones, Blackberry, PDA s, IPAD etc.). Services for the general public and issuers All Departments of the Barcelona Stock Exchange are open to the public to deal with any questions about the stock market and the securities traded on it, as well as any questions brought up by listed corporations. Specialised services for small and medium sized companies Apart from the Second Market for Small and Medium sized Companies the Barcelona Stock Exchange has set up a sertes of complementary services designed to encourage new companies to enter the stock market. These services are as follows: - Publishing of operations carried out on unlisted stocks. - Book keeping under the book entry system, of the accounts record of unlisted stocks. Library Publicacions Publications Periodical publications: Market Price Bulletin. Includes daily information on prices and trading volume as well as information on securities traded. This is available free of charge, from 19.00 onwards at www.borsabcn.es. Quarterly and Biannual Information. Comprises financial statements and other relevant economic information on listed corporations. It is available at www.borsabcn.es. The Library consists of a collection of books and journals on financial and economic subjects, including mainly data on national and foreign stock exchanges, corporate finance, security analysis and portfolio management. Annual and audit reports of listed corporations are available to the public in the library. Visits to the Stock Exchange There is a daily service of organized visits which, in 2011, catered for 13,398 visitors, mainly university students and students from high schools. The Barcelona Stock Exchange Annual Report. Features a complete statistical annex. It is available at www.borsabcn.es. Information Leaflets (free). Fact Sheet 2011 (Spanish, Catalan and English). 18 19
Barcelona Stock Exchange Members Securities Companies ACA S.A., S.V. Av. Meridiana, 27, 3ª planta 08018 Barcelona Office Phone: 93 390 49 00 Agentes de Bolsa Asociados, S.V., S.A. Av. Diagonal, 453 bis, 6ª planta 08036 Barcelona Office Phone: 93 270 25 35 Stock E. Phone: 93 401 35 23 Ahorro Corporación Financiera, S.A., S.V. Av. Diagonal, 640, 1º. D 08017 Barcelona Office Phone: 93 366 24 00 Auriga Global Investors, S.V., S.A. Av. Diagonal, 468, 3º C 08006 Barcelona Office Phone: 93 445 68 70 Banesto Bolsa, S.A. S.V. Pl. Cataluña, 10, Edificio Banesto 08002 Barcelona Office Phone: 93 482 50 17 Bankia Bolsa, S.V., S.A. Serrano, 39 28001 - Madrid Office Phone: 91 436 78 00 Caja 3 Bolsa S.V., S.A. Doctor Val-Carreres, 12 50004 - Zaragoza Office Phone: 976 718 999 C.M. Capital Markets Bolsa, S.V., S.A. Av. Josep Tarradellas, 8-10 08029 Barcelona Office Phone: 93 410 76 15 Stock E. Phone: 93 401 35 20 Credit Suisse Securities, S.V., S.A. Ayala, 42 28001 Madrid Office Phone: 91 791 61 72 GVC Gaesco Valores, S.V., S.A. Av. Diagonal, 427 bis- 429 08036 Barcelona Office Phone: 93 366 27 27 Stock E. Phone: 93 401 36 00 Interdín Bolsa, S.V., S.A. Torre Barcelona. Av. Diagonal, 477, planta 11 08036 Barcelona Office Phone: 93 487 31 54 Intermoney Valores, S.V., S.A. Edificio Torre Picasso, planta 22 28020 - Madrid Office Phone: 91 432 64 00 Inverseguros, S.V., S.A.U. Pedro Muñoz Seca, 4 28001 - Madrid Office Phone: 91 426 38 20 Link Securities, S.V., S.A. Rambla Volart, 96, entresuelo 08041 Barcelona Office Phone: 93 456 57 61 Stock E. Phone: 93 401 36 87 Mercavalor, S.V., S.A. Velázquez, 64-66, 7º Izquierda 28001 - Madrid Office Phone: 91 770 98 70 Mirabaud Finanzas, S.V., S.A. Pl. Francesc Macià, 7, 1ª. planta 08029 Barcelona Office Phone: 93 556 98 00 Stock E. Phone: 93 401 37 52 Renta 4, S.A., S.V. Paseo de Gracia, 77, 5ª planta 08008 Barcelona Office Phone: 93 304 19 00 Stock E. Phone: 93 401 36 44 Riva y García 1877, S.V., S.A. Diputación, 246, principal 08007 Barcelona Office Phone: 93 270 12 12 Stock E. Phone: 93 401 36 71 Santander Investment Bolsa, S.V., S.A. Paseo de Gracia, 5 08007 Barcelona Office Phone: 93 401 11 00 Stock E. Phone: 93 401 35 51 Banco Inversis, S.A. Av. Diagonal, 640 08017 Barcelona Office Phone: 93 238 48 50 CaixaBank, S.A. Av. Diagonal, 621-629. Torre 2 08028 Barcelona Office Phone: 93 404 60 00 Caja Insular de Ahorros de Canarias Triana, 20 35002 Las Palmas de Gran Canaria Office Phone: 928 381 298 Cortal Consors, Sucursal en España Ribera del Loira, 28, 4ª planta 28042 - Madrid Office Phone: 91 209 50 50 Deutsche Bank AG, Sucursal en Londres Winchester House, 1. Great Winchester Street London, EC2N 2DB, United Kingdom Office Phone: +44 (20) 75 45 8000 Société Générale, Sucursal en España Paseo de Gracia, 56, 7º A 08007 Barcelona Office Phone: 93 272 27 50 20 Credit Entities Banco Bilbao Vizcaya Argentaria, S.A. Pl. Cataluña, 5 08002 Barcelona Office Phone: 93 404 38 00 Stock E. Phone: 93 401 35 45 Banco de Finanzas e Inversiones, S.A. Av. Diagonal, 668-670 08034 Barcelona Office Phone: 93 253 54 00 Stock E. Phone: 93 401 36 66 Banco de Sabadell, S.A. Príncipe de Vergara, 125 28002 Madrid Office Phone: 91 782 90 00 Banco Espirito Santo de Investimento, S.A., Sucursal en España Serrano, 88 28006 Madrid Office Phone: 91 400 54 00 21
Securities Agencies Eurodeal, A.V., S.A. Paseo de Gracia, 60 08007 Barcelona Office Phone: 93 401 36 48 Stock E. Phone: 93 401 36 48 Gestión de Patrimonios Mobiliarios, A.V., S.A. Rambla de Catalunya, 98, 8º 2ª 08007 Barcelona Office Phone: 93 242 78 62 For any further information, please contact: Departments of Markets and Information and Study, Publications and International Relations Barcelona Stock Exchange Passeig de Gràcia, 19 08007 - Barcelona 22 Tlfs. (34) 93 401 36 84 (34) 93 401 36 68 Fax (34) 93 401 36 95 (34) 93 401 36 25 23