ANALYSTS RECOMMENDATIONS

Institution	Analyst	Date	Recommendation
Ibersecurities	María Cebollero	21/07/08	Buy
Espirito Santo Research	Luís Navia	17/07/08	Buy
Ibersecurities	María Cebollero	28/01/08	Buy
Santander	Joaquim Ferrer, Iñigo Egusquiza	28/12/07	Buy
BNP-Paribas	Mourad Lahimidi	14/12/07	Hold
Citi Investment Research	Dario Vila	14/12/07	Buy
BBVA Research	Samuel Soria	12/12/07	Buy