Disclaimer

This web site and documents posted on this web site contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements appear in a number of places in this web site and the documents posted thereon and include statements regarding our intent, belief or current expectations with respect to, among other things, future events and trends that may affect our financial condition or results of operations.

These forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those in the forward-looking statements as a result of various factors. The risks and uncertainties involved in our businesses that could affect the matters referred to in such forward-looking statements include but are not limited to:

• changes in general economic or business conditions in the domestic or international markets in which we operate or have material investments that may affect demand for our services;
• changes in currency exchange rates and interest rates;
• the impact of current, pending or future legislation and regulation in Spain and other countries where we operate;
• the actions of existing and potential competitors in each of our markets;
• the outcome of pending litigation; and
• the potential effects of technological changes.

We also refer you to our Annual Report on Form 20-F as well as periodic filings made on Form 6-K, which are on file with the United States Securities and Exchange Commission. These documents may discuss new or different factors that may cause our actual results to differ materially from those in the forward-looking statements.

We caution you not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. We undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise.