Iberdrola is the second largest electricity utility in Spain and is actively present in the electricity distribution market in Brazil and in the generation market in Mexico.

The foundation of the company in 1901 was linked to the first hydroelectric power projects in the Iberian Peninsula. This background led to the current Iberdrola's clean and flexible mix of electricity generation, of which 72 % is greenhouse gas free.

In the year 2000, Iberdrola's share in the Spanish electricity distribution and generation markets were 38 and 29 %, respectively.

From the financial point of view, in 2002 the net sales of Iberdrola were of 9,549.3 million €, its activities generated an EBIT of 1,564.2 million € and consolidated net profits of 962.6 million €.

Iberdrola has been recognised as a long-term based profitable company with a high degree of involvement within the community where it operates. Ibedrola's historical, social and economic policies favoured the adoption of sustainable development as a company value, as laid down in its "Statement and Code of Conduct on Environmental Policy".

web site: www.iberdrola.es

IBERDROLA S.A.
C/ Gardoqui, 8
48008 - Bilbao - Spain

C/ Hermosilla, 3
28001 - Madrid - Spain

e-mail: medioambiente@iberdrola.es