Remuneration policy proposed for 2008 and subsequent financial years

The remuneration policy for 2008 in respect of the Board of Directors will, predictably, continue along the line established to date and which has been explained throughout this Report.

However, the Board of Directors has decided, in relation to its statutory remuneration, that from 2008 onwards, the decrease in the number of Directors to below eleven (11) will mean a reduction of one thirteenth, weighted according to the time during which the vacancy remains open, of the total fixed amount established for the year in question.