Corporate Ownership Structure

Own shares

Own shares

Own shares as a percentage of the share capital moved from 0.095% at 31 December 2006 to the 0.214% existing at the close of 2007.

In 2007, there were no significant changes in own shares, in accordance with the meaning given in Royal Decree 1362/2007.

The aforementioned percentage at 31 December 2007 is equivalent to indirect ownership of 300,000 own shares. The average acquisition cost was 74.14 euros per share.

The net profit earned during 2007 through transactions with own shares amounted to 854 thousand euros.

Shareholders' Meeting authorization

On the date of this Report, the authorization to acquire own shares granted to the Board of Directors by the Shareholders' Meeting on 30 March 2007 was in force. Its full text is available on the corporate website.

Own shares: policy and rules

In accordance with article 8 of the Board Regulations, the Board of Directors is responsible for determining the Company's policy on own shares, and its limitations in particular, subject to the powers obtained at the Shareholders' Meeting.

The Internal Code of Conduct Regulations of Grupo Ferrovial, S.A. and its Group of companies on matters relating to the securities markets establish that the policy on own shares, which must be determined by the Board of Directors as already stated, shall be aimed at ensuring that the purchase and sale of own shares do not distort the process of market price discovery, and regulate the action guidelines in detail.

The Company's Chief Financial Officer is responsible for executing specific acquisition plans and supervising ordinary transactions with the Company's shares.

The acquisitions of the Company's own shares for subsequent transfer to the beneficiaries of plans involving the delivery of shares and of stock option plans approved by the Board of Directors are carried out considering the particular features of this type of operation and in the form approved in those plans.

Information on own shares

Ferrovial provides information about own shares and their average acquisition price on its corporate website; this information is updated every month.