EXHIBIT 8.1

|                        |                                                      |                                                    |  |    |    |     |     |                              |                                                                          |                                                             |                            |                     |        |        |        | Millions |        
|----------------------- | ---------------------------------------------------- | -------------------------------------------------- |  | -- | -- | --- | --- | ---------------------------- | ------------------------------------------------------------------------ | ----------------------------------------------------------- | -------------------------- | ------------------- | ------ | ------ | ------ | -------- | -------
|
|ELECTRICITY BUSINESS    |                                                     
|Endesa Energia, S.A.U.  |                                                      |                                                    |  | FC |    | (1) |     | Marketing of energy products |                                                                          | MADRID                                                      |                            | 100.00              |        | 100.00 |        | 13.0     |        
|                        | Endesa Energia XXI, S.L.                             |                                                    |  |    | FC |     | (1) |                              | Supplementary services associated with the marketing of energy products  |                                                             | MADRID                     |                     | 100.00 |        | 100.00 |          | 0.0    
|                        | SODESA-Comercializaçao de Energia Electrica, S.A.    |                                                    |  |    | EM |     | (1) |                              | Electricity retailing                                                    |                                                             | OPORTOPORTUGAL            |                     | 50.00  |        | 50.00  |          | 0.8    
|Endesa Generacion, S.A. |                                                      |                                                    |  | FC |    | (1) |     | Electric power production    |                                                                          | SEVILLA                                                     |                            | 100.00              |        | 100.00 |        | 1,882.0  |        
|                        | Aragonesa de Actividades Energeticas, S.A. (AAESA)   |                                                    |  |    | NC |     |    |                              | Electric power production                                                |                                                             | TERUEL                     |                     | 100.00 |        | 100.00 |          | 0.1    
|                        | Carboex, S.A.                                        |                                                    |  |    | FC |     | (2) |                              | Fuel supply                                                              |                                                             | MADRID                     |                     | 100.00 |        | 100.00 |          | 24.0   
|                        |                                                      | Carboex International LTD. (CIL)                   |  |    |    | FC  |     | (2)                          |                                                                          | Marketing of fuels and other raw materials                  |                            | NASSAUITHE BAHAMAS |        | 100.00 |        | 100.00   |        
|                        | Empresa Carbonifera del Sur, S.A. (ENCASUR)          |                                                    |  |    | FC |     | (2) |                              | Exploitation of mining deposits                                          |                                                             | MADRID                     |                     | 100.00 |        | 100.00 |          | 18.0   
|                        | Endesa Ciclos Combinados, S.L.                       |                                                    |  |    | FC |     | (1) |                              | Electric power production                                                |                                                             | MADRID                     |                     | 100.00 |        | 100.00 |          | 116.0  
|                        | Energias de Aragon I, S.L. (EASA I)                  |                                                    |  |    | FC |     | (1) |                              | Transmission, distribution and sale of electricity under the rate system |                                                             | ZARAGOZA                   |                     | 100.00 |        | 100.00 |          | 3.2    
|                        | Energias de Aragon II, S.L. (EASA II)                |                                                    |  |    | FC |     | (1) |                              | Electric power production under the special regime                       |                                                             | ZARAGOZA                   |                     | 100.00 |        | 100.00 |          | 18.5   
|                        | Gas y Electricidad Generacion, S.A.U.                |                                                    |  |    | FC |     | (1) |                              | Electric power production                                                |                                                             | PALMA DE MALLORCA          |                     | 100.00 |        | 100.00 |          | 213.8  
|                        | Minas y Ferrocarril de Utrillas, S.A.                |                                                    |  |    | NC |     | (2) |                              | Extraction of black lignite                                              |                                                             | BARCELONA                  |                     | 100.00 |        | 100.00 |          | 3.9    
|                        | Union Electrica de Canarias Generacion, S.A.U.       |                                                    |  |    | FC |     | (1) |                              | Exploitation of lignite mines                                            |                                                             | LAS PALMAS DE GRAN CANARIA |                     | 100.00 |        | 100.00 |          | 190.2  
|                        | Minas Gargallo, S.L.                                 |                                                    |  |    | NC |     |    |                              | Exploitation of mineral deposits                                         |                                                             | ZARAGOZA                   |                     | 99.91  |        | 99.91  |          | 0.2    
|                        | Asociacion Nuclear Asco-Vandellos II, A.I.E.         |                                                    |  |    | FC |     | (1) |                              | Management, operation and administration of nuclear plants               |                                                             | BARCELONA                  |                     | 85.41  |        | 85.41  |          | 19.2   
|                        | Hispano-Francesa de Energia Nuclear, S.A. (HIFRENSA) |                                                    |  |    | NC |     | (1) |                              | Management of the Vandellós I nuclear power plant                        |                                                             | BARCELONA                  |                     | 52.00  |        | 52.00  |          | 0.1    
|                        | Nuclenor, S.A.                                       |                                                    |  |    | PC |     | (1) |                              | Nuclear power production                                                 |                                                             | SANTANDER                  |                     | 50.00  |        | 50.00  |          | 102.0  
|                        |                                                      | Central Nuclear Trillo, A.I.E.                     |  |    |    | NC  |     | (1)                          |                                                                          | Management, operation and administration of a nuclear plant |                            | MADRID              |        | 2.00   |        | 1.00     |        
|                        | Elcogas, S.A.                                        |                                                    |  |    | NC |     | (1) |                              | Electric power production                                                |                                                             | MADRID                     |                     | 37.93  |        | 37.93  |          | 50.0   
|                        | Central Nuclear Almaraz, A.I.E.                      |                                                    |  |    | PC |     | (1) |                              | Management, operation and administration of a nuclear plant              |                                                             | MADRID                     |                     | 36.02  |        | 36.02  |          | 13.1   
|                        | Central Termica de Anllares, A.I.E.                  |                                                    |  |    | NC |     |    |                              | Management, operation and administration of a fossil-fuel plant          |                                                             | MADRID                     |                     | 33.33  |        | 33.33  |          | 0.6    
|                        | Centrales Nucleares Almaraz-Trillo, A.I.E.           |                                                    |  |    | NC |     |    |                              | Management, operation and administration of a nuclear plant              |                                                             | MADRID                     |                     | 23.67  |        | 23.67  |          | 0.0    
|Endesa Red, S.A.        |                                                      |                                                    |  | FC |    | (1) |     | Distribution activities      |                                                                          | BARCELONA                                                   |                            | 100.00              |        | 100.00 |        | 730.0    |        
|                        | Distribuidora Electrica del Puerto de la Cruz, S.A.  |                                                    |  |    | FC |     | (1) |                              | Purchase, transmission, distribution and retailing of electricity        |                                                             | SANTA CRUZ DE TENERIFE     |                     | 100.00 |        | 100.00 |          | 12.6   
|                        | Endesa Distribución Electrica, S.L.                  |                                                    |  |    | FC |     | (1) |                              | Distribution of electricity                                              |                                                             | BARCELONA                  |                     | 100.00 |        | 100.00 |          | 1,204.5
|                        |                                                      | Electrica de La Franja, S.L.                       |  |    |    | NC  |     |                             |                                                                          | Electric power production                                   |                            | BARCELONA           |        | 100.00 |        | 100.00   |        
|                        |                                                      | Transportes y Distribuc. Electricas, S.A. (TYDESA) |  |    |    | NC  |     |                             |                                                                          | Transmission of electricity                                 |                            | GIRONA              |        | 73.33  |        | 73.33    |        
|                        |                                                      | Electricidad de Puerto Real, S.A. (EPRESA)         |  |    |    | NC  |     | (1)                          |                                                                          | Supply and distribution of electricity                      |                            | CADIZ               |        | 50.00  |        | 50.00    |        
|                        |                                                      | Suministradora Electrica de Cadiz, S.A. (SECASA)   |  |    |    | NC  |     | (1)                          |                                                                          | Supply and distribution of electricity                      |                            | CADIZ               |        | 33.50  |        | 33.50    |        
|                        | Endesa Operaciones y Servicios Comerciales, S.L.     |                                                    |  |    | FC |     | (1) |                              | Provision of commercial services                                         |                                                             | MADRID                     |                     | 100.00 |        | 100.00 |          | 10.1   
|                        | Hidroelectrica de Catalunya, S.L.                    |                                                    |  |    | NC |     | (1) |                              | Distribution and retailing of electricity                                |                                                             | BARCELONA                  |                     | 100.00 |        | 100.00 |          | 0.1    
|                        |                                                      |                                                    |  |    |    |     |     |                              |                                                                          |                                                             |                            |                     |        |        |        |          |        

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|                                                                   | Electrica de Lijar, S.L.                                |  |  |    | NC |     | (25) |                                                       | Supply and distribution of electricity                                        |          | CADIZ                      |        | 50.00  |        | 50.00  |       | 1.1  |       | S/D  |       | S/D  |  
|------------------------------------------------------------------ | ------------------------------------------------------- |  |  | -- | -- | --- | ---- | ----------------------------------------------------- | ----------------------------------------------------------------------------- | -------- | -------------------------- | ------ | ------ | ------ | ------ | ----- | ---- | ----- | ---- | ----- | ---- | -
|Siepac, S.A.                                                       |                                                         |  |  | NC |    |    |      | Management of the electricity interconnection system  |                                                                               | MADRID   |                            | 62.50  |        | 62.50  |        | 0.1   |      | 0.0   |      | 0.0   |     
|Cía. Operadora del Mercado Español de Electricidad, S.A. (COMEESA) |                                                         |  |  | NC |    | (4) |      | Economic management of the Spanish electricity market |                                                                               | MADRID   |                            | 5.71   |        | 5.71   |        | S/D   |      | S/D   |      | S/D   |     
|Red Electrica de España, S.A. (REE)                                |                                                         |  |  | EM |    | (3) |      | Transmission of electricity                           |                                                                               | MADRID   |                            | 3.00   |        | 3.00   |        | 270.5 |      | 492.0 |      | 116.0 |     
|GAS                                                                |                                                        
|Endesa Gas, S.A.U.                                                 |                                                         |  |  | FC |    | (2) |      | Production, distribution and retailing of gas         |                                                                               | ZARAGOZA |                            | 100.00 |        | 100.00 |        | 45.3  |      | 42.9  |      | 6.9   |     
|                                                                   | Endesa Gas Transportista, S.L.                          |  |  |    | NC |     | (2)  |                                                       | Natural gas regasification and transmission                                   |          | ZARAGOZA                   |        | 100.00 |        | 100.00 |       | 5.0  |       | 0.0  |       | 0.0  |  
|                                                                   | Gas Alicante, S.A.U.                                    |  |  |    | NC |     | (2)  |                                                       | Complete piped gas cycle                                                      |          | ALICANTE                   |        | 100.00 |        | 100.00 |       | 3.9  |       | (0.9 | )     | 0.1  |  
|                                                                   | Gesa Gas, S.A.U.                                        |  |  |    | FC |     | (2)  |                                                       | Complete piped gas cycle                                                      |          | PALMA DE MALLORCA          |        | 100.00 |        | 100.00 |       | 17.1 |       | 14.6 |       | 2.6  |  
|                                                                   | Meridional de Gas, S.A.U. (MEGASA)                      |  |  |    | EM |     | (2)  |                                                       | Complete piped gas cycle                                                      |          | GRANADA                    |        | 100.00 |        | 100.00 |       | 6.6  |       | (2.2 | )     | 0.3  |  
|                                                                   | Gasificadora Regional Canaria, S.A.                     |  |  |    | EM |     | (2)  |                                                       | Complete piped gas cycle                                                      |          | LAS PALMAS DE GRAN CANARIA |        | 65.00  |        | 65.00  |       | 0.7  |       | 0.0  |       | (0.2 | )
|                                                                   | Compañia Transportista de Gas Canarias, S.A.            |  |  |    | NC |     | (2)  |                                                       | Gas transmission                                                              |          | LAS PALMAS DE GRAN CANARIA |        | 73.93  |        | 73.93  |       | 3.2  |       | 0.0  |       | 0.0  |  
|                                                                   | Gas Aragon, S.A.                                        |  |  |    | FC |     | (2)  |                                                       | Distribution of piped natural gas                                             |          | ZARAGOZA                   |        | 60.67  |        | 60.67  |       | 5.9  |       | 15.1 |       | 7.4  |  
|                                                                   | NQF Gas SGPS, S.A.                                      |  |  |    | EM |     | (16) |                                                       | Portfolio company                                                             |          | OPORTOPORTUGAL            |        | 49.00  |        | 49.00  |       | 5.0  |       | 36.9 |       | 0.2  |  
|                                                                   | Distribuidora Regional del Gas, S.A.                    |  |  |    | EM |     | (2)  |                                                       | Distribution and retailing of gas                                             |          | VALLADOLID                 |        | 45.00  |        | 45.00  |       | 3.6  |       | 1.1  |       | 1.4  |  
|                                                                   | Transportista Regional de Gas, S.L.                     |  |  |    | NC |     | (2)  |                                                       | Gas infrastructure and transmission                                           |          | VALLADOLID                 |        | 45.00  |        | 45.00  |       | 0.7  |       | 0.2  |       | 0.4  |  
|                                                                   | Distrib. y Comerc. Gas Extremadura, S.A. (DICOGEXSA)    |  |  |    | NC |     | (2)  |                                                       | Complete gas cycle                                                            |          | BADAJOZ                    |        | 47.00  |        | 47.00  |       | 21.6 |       | 0.2  |       | 1.5  |  
|                                                                   | Kromschroeder, S.A.                                     |  |  |    | NC |     | (17) |                                                       | Manufacture of gas meters                                                     |          | BARCELONA                  |        | 27.93  |        | 27.93  |       | 0.7  |       | 10.5 |       | 0.4  |  
|Endesa Generacion, S.A.                                            |                                                         |  |  |    |    |     |      |                                                       |                                                                               |          |                            |        |        |        |        |       |      |       |      |       |     
|                                                                   | Iniciativas de Gas, S.L.                                |  |  |    | NC |     |     |                                                       | Construction and operation of natural gas transmission and storage facilities |          | MADRID                     |        | 40.00  |        | 40.00  |       | 0.7  |       | (0.4 | )     | 0.0  |  
|                                                                   | Regasificadora del Noroeste, S.A.                       |  |  |    | NC |     |     |                                                       | Natural gas regasification and transmission                                   |          | MURGADOSA CORUÑA          |        | 21.00  |        | 21.00  |       | 18.0 |       | (0.4 | )     | (0.2 | )
|                                                                   | Sdad. Estudio y Prom. Gasoducto Argelia-Europa (MEDGAZ) |  |  |    | NC |     |     |                                                       | Construction of a gas pipeline                                                |          | MADRID                     |        | 12.00  |        | 12.00  |       | 16.5 |       | 0.0  |       | 0.0  |  
|DIVERSIFICATION/COGENERATION AND RENEWABLE ENERGIES                |                                                        
|Endesa Cogeneracion y Renovables, S.A. (ECYR)                      |                                                         |  |  | FC |    | (2) |      | Cogeneration and renewable energies                   |                                                                               | SEVILLE  |                            | 100.00 |        | 100.00 |        | 127.1 |      | 24.7  |      | 19.7  |     
|                                                                   | Almussafes Servicios Energeticos, S.L.                  |  |  |    | NC |     | (2)  |                                                       | Cogeneration plant management and maintenance                                 |          | BARCELONA                  |        | 100.00 |        | 100.00 |       | 0.0  |       | 0.0  |       | 0.4  |  
|                                                                   | Hidroelectrica del Santa Magdalena, S.A.                |  |  |    | NC |     | (2)  |                                                       | Energy operations                                                             |          | BARCELONA                  |        | 100.00 |        | 100.00 |       | 0.0  |       | 0.0  |       | 0.0  |  
|                                                                   | Parque Eolico A Carba, S.A.                             |  |  |    | FC |     | (2)  |                                                       | Wind-powered facility                                                         |          | LUGO                       |        | 100.00 |        | 100.00 |       | 67.9 |       | 10.5 |       | 7.7  |  
|                                                                   | Parque Eolico Caños de Meca, S.A.U.                     |  |  |    | NC |     | (2)  |                                                       | Wind-powered facility                                                         |          | SEVILLE                    |        | 100.00 |        | 100.00 |       | 1.8  |       | 0.0  |       | 0.0  |  
|                                                                   | Saltos del Nansa I, S.A.                                |  |  |    | FC |     | (2)  |                                                       | Production, transmission and distribution of electricity                      |          | SANTANDER                  |        | 100.00 |        | 100.00 |       | 7.2  |       | 15.3 |       | 4.8  |  
|                                                                   | Saltos y Centrales de Catalunya, S.A.                   |  |  |    | NC |     | (2)  |                                                       | Operation of hydroelectric plants                                             |          | BARCELONA                  |        | 100.00 |        | 100.00 |       | 0.0  |       | 0.0  |       | 0.0  |  
|                                                                   | Sociedad Eolica de Tarifa, S.A.                         |  |  |    | NC |     |     |                                                       | Construction and operation of wind-powered facilities                         |          | SEVILLE                    |        | 100.00 |        | 100.00 |       | 11.2 |       | 0.0  |       | 0.0  |  
|                                                                   | Unelco Cogeneraciones Sanitarias del Archipielago, S.A. |  |  |    | FC |     | (2)  |                                                       | Cogeneration facilities at hospitals                                          |          | LAS PALMAS DE GRAN CANARIA |        | 100.00 |        | 100.00 |       | 1.2  |       | 1.7  |       | (0.7 | )
|                                                                   | Fermicaise, S.A.                                        |  |  |    | NC |     | (2)  |                                                       | Cogeneration                                                                  |          | MEJICO D.F.                |        | 99.99  |        | 99.99  |       | 0.6  |       | (0.4 | )     | (0.3 | )
|                                                                   | Gresaise, S.A.                                          |  |  |    | NC |     | (2)  |                                                       | Cogeneration                                                                  |          | MEJICO D.F.                |        | 99.99  |        | 99.99  |       | 0.6  |       | (0.4 | )     | (0.2 | )
|                                                                   | Italaise, S.A.                                          |  |  |    | NC |     | (2)  |                                                       | Cogeneration                                                                  |          | MEJICO D.F.                |        | 99.99  |        | 99.99  |       | 0.6  |       | (0.3 | )     | 0.1  |  
|                                                                   | Electro Mariola, A.I.E.                                 |  |  |    | FC |     | (2)  |                                                       | Cogeneration                                                                  |          | MADRID                     |        | 99.00  |        | 99.00  |       | 0.5  |       | 0.0  |       | 0.2  |  
|                                                                   | Micase, S.A.                                            |  |  |    | NC |     | (2)  |                                                       | Cogeneration                                                                  |          | MEJICO D.F.                |        | 51.00  |        | 51.00  |       | 3.8  |       | (3.7 | )     | (1.0 | )
|                                                                   | Bioaise                                                 |  |  |    | NC |     | (1)  |                                                       | Production, purchase, retailing and marketing of electricity                  |          | CARTAGENA-COLOMBIA         |        | 95.00  |        | 95.00  |       | 0.6  |       | (0.2 | )     | (0.1 | )
|                                                                   |                                                         |  |  |    |    |     |      |                                                       |                                                                               |          |                            |        |        |        |        |       |      |       |      |       |     

2

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| | Parque Eolico de Enix, S.A.                        |  |  |  | FC |  | (2)  |  | Wind powered facility                                                 |  | SEVILLE                    |  | 95.00  |  | 95.00  |  | 3.0 |  | (1.1 | ) | (0.1 | )
| | -------------------------------------------------- |  |  |  | -- |  | ---- |  | --------------------------------------------------------------------- |  | -------------------------- |  | ------ |  | ------ |  | --- |  | ---- | - | ---- | -
| | Propaise                                           |  |  |  | NC |  | (1)  |  | Production, purchase, sale and retailing of electricity               |  | CARTAGENA-COLOMBIA         |  | 94.99  |  | 94.99  |  | 0.6 |  | 0.2  |   | (0.2 | )
| | Explotaciones Eolicas Sierra La Virgen, S.A.       |  |  |  | FC |  |     |  | Wind-powered facility                                                 |  | ZARAGOZA                   |  | 90.00  |  | 90.00  |  | 4.2 |  | 0.0  |   | 0.0  |  
| | Parque Eolico Finca de Mogan, S.A.                 |  |  |  | FC |  | (2)  |  | Construction and operation of a wind-powered facility in Arico        |  | LAS PALMAS DE GRAN CANARIA |  | 90.00  |  | 90.00  |  | 3.8 |  | 0.7  |   | 0.2  |  
| | Energetica Mataro, S.A.                            |  |  |  | NC |  | (2)  |  | Construction and operation of a mud thermal treatment plant           |  | BARCELONA                  |  | 85.00  |  | 85.00  |  | 0.0 |  | 0.0  |   | 0.0  |  
| | Eolicas de Agaete, S.L.                            |  |  |  | FC |  | (2)  |  | Wind-powered facility                                                 |  | LAS PALMAS DE GRAN CANARIA |  | 80.00  |  | 80.00  |  | 0.2 |  | 0.1  |   | 0.1  |  
| | Parque Eolico de Aragon, A.I.E.                    |  |  |  | FC |  | (2)  |  | Wind-powered facility                                                 |  | ZARAGOZA                   |  | 80.00  |  | 80.00  |  | 0.6 |  | 2.1  |   | 1.9  |  
| | Parque Eolico Carretera de Arinaga, S.A.           |  |  |  | FC |  | (2)  |  | Wind-powered facility                                                 |  | LAS PALMAS DE GRAN CANARIA |  | 80.00  |  | 80.00  |  | 1.6 |  | 0.7  |   | 0.8  |  
| | Explotaciones Eolicas de Escucha, S.A.             |  |  |  | FC |  | (2)  |  | Production, distribution and use of electricity                       |  | LAS PALMAS DE GRAN CANARIA |  | 76.00  |  | 76.00  |  | 3.5 |  | (0.1 | ) | 0.6  |  
| | Explotaciones Eolicas El Puerto, S.A.              |  |  |  | FC |  | (2)  |  | Wind-powered facility                                                 |  | TERUEL                     |  | 73.60  |  | 73.60  |  | 3.2 |  | 0.0  |   | 0.4  |  
| | Explotaciones Eolicas Saso Plano, S.A.             |  |  |  | NC |  |     |  | Wind-powered facility                                                 |  | ZARAGOZA                   |  | 70.00  |  | 70.00  |  | 5.5 |  | 0.0  |   | 0.0  |  
| | Parque Eolico Montes de Las Navas, S.A.            |  |  |  | FC |  | (2)  |  | Wind-powered facility                                                 |  | MADRID                     |  | 62.50  |  | 62.50  |  | 6.5 |  | 0.6  |   | 1.3  |  
| | Proyectos Eolicos Valencianos, S.A.                |  |  |  | NC |  | (2)  |  | Wind power                                                            |  | ALDAYAVALENCIA            |  | 55.00  |  | 55.00  |  | 0.4 |  | 0.0  |   | 0.0  |  
| | Cogeneracion del Ter, S.L.                         |  |  |  | EM |  | (2)  |  | Cogeneration                                                          |  | BARCELONA                  |  | 69.00  |  | 69.00  |  | 3.7 |  | 0.8  |   | (0.2 | )
| | Parque Eolico de Santa Lucia, S.A.                 |  |  |  | EM |  | (2)  |  | Construction, operation and administration of wind-powered facilities |  | LAS PALMAS DE GRAN CANARIA |  | 65.67  |  | 65.67  |  | 0.9 |  | 0.2  |   | 0.4  |  
| | Coreysa Cogeneracion, S.A.                         |  |  |  | NC |  | (2)  |  | Cogeneration                                                          |  | SEVILLE                    |  | 65.00  |  | 65.00  |  | 0.0 |  | 0.0  |   | 0.0  |  
| | Relcamp, A.I.E.                                    |  |  |  | EM |  | (2)  |  | Cogeneration                                                          |  | BARCELONA                  |  | 65.00  |  | 65.00  |  | 0.2 |  | 0.0  |   | 0.0  |  
| | Energias de Graus, S.L.                            |  |  |  | EM |  | (2)  |  | Hydroelectric power plant                                             |  | BARCELONA                  |  | 62.22  |  | 62.22  |  | 1.3 |  | 0.3  |   | 0.3  |  
| | Eolicos de Tirajana, A.I.E.                        |  |  |  | FC |  | (2)  |  | Operation of a wind-powered facility                                  |  | LAS PALMAS DE GRAN CANARIA |  | 60.00  |  | 60.00  |  | 0.0 |  | 0.0  |   | 0.2  |  
| | Planta Eolica Europea, S.A. (PEESA)                |  |  |  | FC |  | (2)  |  | Wind power                                                            |  | MADRID                     |  | 56.12  |  | 56.12  |  | 1.2 |  | 0.3  |   | 0.1  |  
| | Agrupación Rubi, S.A.                              |  |  |  | NC |  | (2)  |  | Treatment of urban solid waste                                        |  | BARCELONA                  |  | 55.00  |  | 55.00  |  | 1.6 |  | (0.2 | ) | (0.1 | )
| | Eolicas de Fuencaliente, S.A.                      |  |  |  | EM |  | (2)  |  | Wind power                                                            |  | LAS PALMAS DE GRAN CANARIA |  | 55.00  |  | 55.00  |  | 0.2 |  | 0.2  |   | 0.1  |  
| | Energias de La Mancha, S.A. (ENEMANSA)             |  |  |  | FC |  | (2)  |  | Biomass                                                               |  | CIUDAD REAL                |  | 52.00  |  | 52.00  |  | 3.9 |  | (0.5 | ) | 0.5  |  
| | Parque Eolico Punta de Teno, S.A.                  |  |  |  | FC |  | (2)  |  | Wind-powered facility                                                 |  | LAS PALMAS DE GRAN CANARIA |  | 52.00  |  | 52.00  |  | 0.5 |  | 0.3  |   | 0.2  |  
| | T.P. Sociedade Termica Portuguesa, S.A. (TERMIPOR) |  |  |  | EM |  | (2)  |  | Cogeneration                                                          |  | LISBONPORTUGAL            |  | 50.00  |  | 50.00  |  | 7.5 |  | 0.3  |   | 0.3  |  
| | Progreen Costa, S.L.                               |  |  |  | NC |  |     |  | Treatment of urban solid waste                                        |  | ZARAGOZA                   |  | 80.00  |  | 80.00  |  | 1.5 |  | (3.3 | ) | 0.0  |  
| | Progreen Fuente Alamo, S.A.                        |  |  |  | NC |  |     |  | Treatment of urban solid waste                                        |  | MURCIA                     |  | 51.00  |  | 51.00  |  | 0.6 |  | 0.0  |   | 0.0  |  
| | Progreen Torrente, S.A.                            |  |  |  | NC |  |     |  | Treatment of urban solid waste                                        |  | ZARAGOZA                   |  | 100.00 |  | 100.00 |  | 2.9 |  | (0.1 | ) | 0.0  |  
| | Progreen Villanueva, S.A.                          |  |  |  | NC |  |     |  | Treatment of urban solid waste                                        |  | ZARAGOZA                   |  | 100.00 |  | 100.00 |  | 1.9 |  | (0.3 | ) | 0.0  |  
| | Andaluza de Cogeneracion, S.A.                     |  |  |  | NC |  |     |  | Cogeneration                                                          |  | JAEN                       |  | 50.00  |  | 50.00  |  | 0.2 |  | 0.0  |   | 0.0  |  
| | Antrel, A.I.E.                                     |  |  |  | EM |  | (2)  |  | Cogeneration                                                          |  | GIRONA                     |  | 50.00  |  | 50.00  |  | 0.3 |  | 0.0  |   | 0.4  |  
| | Cogeneracion TenerelMollet, A.I.E.                |  |  |  | EM |  | (2)  |  | Cogeneration                                                          |  | BARCELONA                  |  | 50.00  |  | 50.00  |  | 0.6 |  | 0.0  |   | (0.1 | )
| | Confirel, A.I.E.                                   |  |  |  | EM |  | (3)  |  | Cogeneration                                                          |  | GIRONA                     |  | 50.00  |  | 50.00  |  | 0.0 |  | 0.2  |   | 0.4  |  
| | Energias Alternativas del Sur, S.L.                |  |  |  | EM |  | (2)  |  | Wind power                                                            |  | LAS PALMAS DE GRAN CANARIA |  | 50.00  |  | 50.00  |  | 0.6 |  | 0.3  |   | 0.1  |  
| | Energias Argentinas, S.A.                          |  |  |  | NC |  |     |  | Wind power                                                            |  | BUENOS AIRESARGENTINA     |  | 50.00  |  | 50.00  |  | 0.5 |  | (0.3 | ) | 0.0  |  
| | Eolicas de Tenerife, A.I.E.                        |  |  |  | EM |  | (12) |  | Construction and operation of wind-powered facilities                 |  | TENERIFE                   |  | 50.00  |  | 50.00  |  | 0.4 |  | 0.6  |   | 0.1  |  
| | Ercasa Cogeneracion, S.A.                          |  |  |  | NC |  | (8)  |  | Cogeneration                                                          |  | ZARAGOZA                   |  | 50.00  |  | 50.00  |  | 0.6 |  | 0.1  |   | 0.0  |  
| | Explotaciones Eolicas de Aldehuelas, S.L.          |  |  |  | NC |  | (7)  |  | Wind power                                                            |  | OVIEDO                     |  | 50.00  |  | 50.00  |  | 0.2 |  | 0.0  |   | 0.0  |  
| | Hidroelectrica del Serrado, S.L.                   |  |  |  | EM |  | (3)  |  | Hydroelectric power plant                                             |  | BARCELONA                  |  | 50.00  |  | 50.00  |  | 0.7 |  | 0.0  |   | 0.1  |  
| | Hidrorel, U.T.E.                                   |  |  |  | NC |  |     |  | Hydroelectric power plant                                             |  | BARCELONA                  |  | 50.00  |  | 50.00  |  | 0.0 |  | 0.0  |   | 0.0  |  
| |                                                    |  |  |  |    |  |      |  |                                                                       |  |                            |  |        |  |        |  |     |  |      |   |     

3

---



| | Parque Eolico A Capelada, A.I.E.                |  |  |  | EM |  | (2)  |  | Wind-powered facility                                               |  | A CORUÑA                   |  | 50.00 |  | 50.00 |  | 5.9  |  | 0.0  |   | 1.4  |  
| | ----------------------------------------------- |  |  |  | -- |  | ---- |  | ------------------------------------------------------------------- |  | -------------------------- |  | ----- |  | ----- |  | ---- |  | ---- | - | ---- | -
| | Parque Eolico de Barbanza, S.A.                 |  |  |  | EM |  | (2)  |  | Wind-powered facility                                               |  | MADRID                     |  | 50.00 |  | 50.00 |  | 3.6  |  | 2.8  |   | 0.9  |  
| | Parque Eolico de Cabo Vilano, A.I.E.            |  |  |  | EM |  | (1)  |  | Wind-powered facility                                               |  | A CORUÑA                   |  | 50.00 |  | 50.00 |  | 1.3  |  | (0.1 | ) | (0.1 | )
| | Prosamer Cogeneracion, S.L.                     |  |  |  | EM |  | (1)  |  | Cogeneration                                                        |  | VALENCIA                   |  | 50.00 |  | 50.00 |  | 1.5  |  | 0.0  |   | 0.2  |  
| | Proyecto Coreysa Cogeneracion, U.T.E.           |  |  |  | NC |  |     |  | Cogeneration                                                        |  | SEVILLE                    |  | 50.00 |  | 50.00 |  | 0.0  |  | 0.0  |   | 0.0  |  
| | Proyecto Jabugo Cogeneracion, U.T.E.            |  |  |  | NC |  |     |  | Cogeneration                                                        |  | HUELVA                     |  | 50.00 |  | 50.00 |  | 0.0  |  | 0.0  |   | 0.0  |  
| | Proyecto Santo Rostro Cogeneracion, U.T.E.      |  |  |  | NC |  |     |  | Cogeneration                                                        |  | SEVILLE                    |  | 50.00 |  | 50.00 |  | 0.0  |  | 0.0  |   | 0.0  |  
| | Salto de San Rafael, S.L.                       |  |  |  | NC |  | (22) |  | Hydroelectric power production                                      |  | MADRID                     |  | 50.00 |  | 50.00 |  | 0.5  |  | 0.2  |   | 0.0  |  
| | Sociedad Eolica Los Lances, S.A.                |  |  |  | EM |  | (1)  |  | Wind power                                                          |  | CADIZ                      |  | 50.00 |  | 50.00 |  | 2.4  |  | 0.2  |   | 0.5  |  
| | Tyborel, A.I.E.                                 |  |  |  | EM |  | (23) |  | Cogeneration                                                        |  | GIRONA                     |  | 50.00 |  | 50.00 |  | 0.8  |  | 0.0  |   | 0.1  |  
| | Hidricas de Viseu, S.A. (HIDRIVIS)              |  |  |  | NC |  |     |  | Mini-hydroelectric plants                                           |  | MAIAPORTUGAL              |  | 33.00 |  | 49.00 |  | 1.0  |  | 0.0  |   | 0.0  |  
| | Central Hidroelectrica Casillas, S.A.           |  |  |  | NC |  |     |  | Hydroelectric power production                                      |  | SEVILLE                    |  | 49.00 |  | 49.00 |  | 0.3  |  | 0.0  |   | 0.0  |  
| | Parque Eolico Sierra del Madero, S.A.           |  |  |  | EM |  | (2)  |  | Wind-powered facility                                               |  | SORIA                      |  | 48.00 |  | 48.00 |  | 7.2  |  | 0.8  |   | 1.5  |  
| | Sociedad Eolica de Andalucia, S.A. (SEASA)      |  |  |  | EM |  | (1)  |  | Wind-powered facility                                               |  | SEVILLE                    |  | 46.67 |  | 46.67 |  | 4.5  |  | 2.8  |   | 0.5  |  
| | Eolica Valle del Ebro, S.A.                     |  |  |  | EM |  | (2)  |  | Wind power                                                          |  | ZARAGOZA                   |  | 45.50 |  | 45.50 |  | 5.6  |  | 1.1  |   | 0.7  |  
| | Anoia d'Energia, S.A.                           |  |  |  | EM |  | (1)  |  | Cogeneration                                                        |  | BARCELONA                  |  | 45.00 |  | 45.00 |  | 2.4  |  | 0.2  |   | (0.3 | )
| | Corelcat, A.I.E.                                |  |  |  | EM |  | (2)  |  | Cogeneration                                                        |  | LLEIDA                     |  | 45.00 |  | 45.00 |  | 0.1  |  | 0.1  |   | 0.1  |  
| | Releco Santiago, A.I.E.                         |  |  |  | EM |  | (2)  |  | Cogeneration                                                        |  | HUESCA                     |  | 45.00 |  | 45.00 |  | 0.3  |  | (0.3 | ) | 0.1  |  
| | Santo Rostro Cogeneracion, S.A.                 |  |  |  | NC |  | (2)  |  | Cogeneration                                                        |  | SEVILLE                    |  | 45.00 |  | 45.00 |  | 0.2  |  | (0.3 | ) | 0.0  |  
| | Termotec Energia, A.I.E.                        |  |  |  | NC |  | (4)  |  | Cogeneration                                                        |  | VALENCIA                   |  | 45.00 |  | 45.00 |  | 0.5  |  | (0.9 | ) | 0.0  |  
| | Asanefi, A.I.E.                                 |  |  |  | EM |  | (1)  |  | Cogeneration                                                        |  | BARCELONA                  |  | 42.50 |  | 42.50 |  | 1.0  |  | 0.6  |   | 0.7  |  
| | Erfei, A.I.E.                                   |  |  |  | EM |  | (3)  |  | Cogeneration                                                        |  | TARRAGONA                  |  | 42.00 |  | 42.00 |  | 0.7  |  | (0.1 | ) | (0.2 | )
| | Cogeneracio J. Vilaseca, A.I.E.                 |  |  |  | EM |  | (24) |  | Cogeneration                                                        |  | BARCELONA                  |  | 40.00 |  | 40.00 |  | 0.7  |  | 0.7  |   | 0.2  |  
| | Energia de La Loma, S.A.                        |  |  |  | EM |  | (2)  |  | Biomass                                                             |  | JAEN                       |  | 40.00 |  | 40.00 |  | 4.5  |  | 0.0  |   | 0.1  |  
| | Eolicas de Lanzarote, S.L.                      |  |  |  | EM |  | (2)  |  | Production, distribution and supply of electric power               |  | LANZAROTE                  |  | 40.00 |  | 40.00 |  | 5.0  |  | 0.7  |   | 0.0  |  
| | Eolicos de Fuerteventura, A.I.E.                |  |  |  | EM |  | (2)  |  | Management, operation and administration of a wind-powered facility |  | FUERTEVENTURA              |  | 40.00 |  | 40.00 |  | 0.0  |  | 0.0  |   | 1.3  |  
| | Erca Cinco Villas-1, S.L.                       |  |  |  | NC |  | (8)  |  | Cogeneration                                                        |  | ZARAGOZA                   |  | 40.00 |  | 40.00 |  | 0.2  |  | 0.0  |   | 0.0  |  
| | Forel, S.L.                                     |  |  |  | EM |  | (3)  |  | Cogeneration                                                        |  | BARCELONA                  |  | 40.00 |  | 40.00 |  | 0.0  |  | 0.6  |   | 1.1  |  
| | Tirme, S.A.                                     |  |  |  | EM |  | (1)  |  | Solid waste treatment                                               |  | PALMA DE MALLORCA          |  | 40.00 |  | 40.00 |  | 7.7  |  | 3.6  |   | 4.6  |  
| | Vapeltar, A.I.E.                                |  |  |  | NC |  | (4)  |  | Cogeneration                                                        |  | BARCELONA                  |  | 40.00 |  | 40.00 |  | 0.0  |  | 0.0  |   | 0.0  |  
| | Virgen de la Bella, A.I.E.                      |  |  |  | EM |  | (2)  |  | Cogeneration                                                        |  | HUESCA                     |  | 40.00 |  | 40.00 |  | 2.4  |  | 0.0  |   | 0.1  |  
| | Yedesa Cogeneracion, S.A.                       |  |  |  | NC |  | (2)  |  | Cogeneration                                                        |  | ALMERIA                    |  | 40.00 |  | 40.00 |  | 0.2  |  | (0.2 | ) | 0.0  |  
| | Minicentrales Canal ImperialGallur, S.L.       |  |  |  | NC |  |     |  | Mini-hydroelectric plants                                           |  | ZARAGOZA                   |  | 36.50 |  | 36.50 |  | 1.2  |  | 0.0  |   | 0.0  |  
| | Printerel, A.I.E.                               |  |  |  | EM |  | (4)  |  | Cogeneration                                                        |  | BARCELONA                  |  | 39.00 |  | 39.00 |  | 0.3  |  | 0.0  |   | 0.2  |  
| | Fibrarel, A.I.E.                                |  |  |  | EM |  | (10) |  | Cogeneration                                                        |  | BARCELONA                  |  | 36.55 |  | 36.55 |  | 0.0  |  | 0.0  |   | 0.2  |  
| | Hidrobeira Limitada, S.L.                       |  |  |  | NC |  |     |  | Hydroelectric power plant                                           |  | VISEUPORTUGAL             |  | 35.71 |  | 35.71 |  | S/D  |  | S/D  |   | S/D  |  
| | Ercetesa, S.A.                                  |  |  |  | NC |  | (8)  |  | Cogeneration                                                        |  | ZARAGOZA                   |  | 35.00 |  | 35.00 |  | 0.3  |  | 0.1  |   | 0.1  |  
| | Compañia Eolica Tierras Altas, S.A.             |  |  |  | EM |  | (2)  |  | Wind power                                                          |  | SORIA                      |  | 33.83 |  | 33.83 |  | 13.2 |  | 1.5  |   | 2.1  |  
| | Compañia Energetica Vientos del Atlantico, S.A. |  |  |  | NC |  |     |  | Construction and operation of wind-powered facilities               |  | LAS PALMAS DE GRAN CANARIA |  | 33.33 |  | 33.33 |  | 0.1  |  | 0.0  |   | 0.0  |  
| | Oxagesa, A.I.E.                                 |  |  |  | EM |  | (4)  |  | Cogeneration                                                        |  | TERUEL                     |  | 33.33 |  | 33.33 |  | 0.0  |  | 0.1  |   | 0.2  |  
| | Terdon Cogeneracion, S.L.                       |  |  |  | NC |  | (9)  |  | Cogeneration                                                        |  | ZARAGOZA                   |  | 33.33 |  | 33.33 |  | 0.3  |  | 0.0  |   | 0.0  |  
| | Toledo P. V., A.E.I.E.                          |  |  |  | NC |  | (3)  |  | Research on photovoltaic solar power plants                         |  | MADRID                     |  | 33.33 |  | 33.33 |  | 0.0  |  | 0.1  |   | 0.0  |  
| | Central Hidroelectrica Güejar Sierra, S.L.      |  |  |  | EM |  | (5)  |  | Hydroelectric power production                                      |  | SEVILLE                    |  | 33.30 |  | 33.30 |  | 0.4  |  | 0.8  |   | 0.3  |  
| | Cogeneracion Hostalrich, A.I.E.                 |  |  |  | EM |  | (23) |  | Cogeneration                                                        |  | GIRONA                     |  | 33.00 |  | 33.00 |  | 0.8  |  | 0.0  |   | 0.2  |  
| | Erecosalz, S.L.                                 |  |  |  | NC |  |     |  | Cogeneration                                                        |  | ZARAGOZA                   |  | 33.00 |  | 33.00 |  | 0.0  |  | 0.0  |   | 0.0  |  
| |                                                 |  |  |  |    |  |      |  |                                                                     |  |                            |  |       |  |       |  |      |  |      |   |     

4

---



|                                | Cogeneracion Eurohueco, A.I.E.                                |  |  |  | EM |  | (4)  |  | Cogeneration                                              |  | BARCELONA                  |  | 30.00 |  | 30.00 |  | 3.6  |  | 0.0   |   | 0.3  |  
|------------------------------- | ------------------------------------------------------------- |  |  |  | -- |  | ---- |  | --------------------------------------------------------- |  | -------------------------- |  | ----- |  | ----- |  | ---- |  | ----- | - | ---- | -
|                                | Covitrel, A.I.E.                                              |  |  |  | EM |  | (4)  |  | Cogeneration                                              |  | TARRAGONA                  |  | 30.00 |  | 30.00 |  | 3.3  |  | 0.0   |   | (0.5 | )
|                                | Empresa Provincial de Energia, S.A. (EPESA)                   |  |  |  | NC |  |     |  | Complete electric power cycle                             |  | HUESCA                     |  | 30.00 |  | 30.00 |  | 0.6  |  | 0.0   |   | 0.0  |  
|                                | Forsean, S.L.                                                 |  |  |  | EM |  | (3)  |  | Cogeneration                                              |  | HUELVA                     |  | 30.00 |  | 30.00 |  | 0.1  |  | 2.0   |   | 0.7  |  
|                                | Hidroescoron, S.L.                                            |  |  |  | NC |  |     |  | Mini-hydroelectric plants                                 |  | ZARAGOZA                   |  | 30.00 |  | 30.00 |  | 0.0  |  | 0.0   |   | 0.0  |  
|                                | Port Ecorel, A.I.E.                                           |  |  |  | NC |  | (10) |  | Cogeneration                                              |  | BARCELONA                  |  | 30.00 |  | 30.00 |  | 0.5  |  | (0.7  | ) | (0.3 | )
|                                | Productora de Energias, S.A. (PESA)                           |  |  |  | NC |  |     |  | Mini-hydroelectric plants                                 |  | BARCELONA                  |  | 30.00 |  | 30.00 |  | 0.0  |  | 0.0   |   | 0.0  |  
|                                | Relsa-Seat-Idae, U.T.E.                                       |  |  |  | NC |  |     |  | Cogeneration                                              |  | MADRID                     |  | 30.00 |  | 30.00 |  | 0.8  |  | 1.1   |   | (0.4 | )
|                                | Sistemas Energeticos La Muela, S.A.                           |  |  |  | EM |  |     |  | Wind power                                                |  | ZARAGOZA                   |  | 30.00 |  | 30.00 |  | 3.1  |  | 1.1   |   | 0.3  |  
|                                | Colomer de Cogeneracio, A.I.E.                                |  |  |  | EM |  | (1)  |  | Cogeneration                                              |  | BARCELONA                  |  | 27.50 |  | 27.50 |  | 0.7  |  | 1.0   |   | 0.4  |  
|                                | Sati Cogeneracio, A.I.E.                                      |  |  |  | EM |  | (1)  |  | Cogeneration                                              |  | BARCELONA                  |  | 27.50 |  | 27.50 |  | 0.1  |  | 1.1   |   | 0.0  |  
|                                | Energetica de Rossello, A.I.E.                                |  |  |  | EM |  | (4)  |  | Cogeneration                                              |  | BARCELONA                  |  | 27.00 |  | 27.00 |  | 3.6  |  | 3.4   |   | 1.0  |  
|                                | Ereco San Mateo, S.L.                                         |  |  |  | NC |  |     |  | Cogeneration                                              |  | HUESCA                     |  | 27.00 |  | 27.00 |  | 0.0  |  | 0.0   |   | 0.0  |  
|                                | Garofeica, S.A.                                               |  |  |  | EM |  |     |  | Cogeneration                                              |  | BARCELONA                  |  | 27.00 |  | 27.00 |  | 0.7  |  | 0.5   |   | 0.1  |  
|                                | Rofeica d'Energia, S.A.                                       |  |  |  | EM |  |     |  | Cogeneration                                              |  | BARCELONA                  |  | 27.00 |  | 27.00 |  | 2.0  |  | 0.6   |   | 0.2  |  
|                                | Sistemas Energeticos Mas Garullo, S.A.                        |  |  |  | EM |  |     |  | Cogeneration                                              |  | ZARAGOZA                   |  | 27.00 |  | 27.00 |  | 1.5  |  | 0.5   |   | 0.1  |  
|                                | Urgell Energia, S.A.                                          |  |  |  | EM |  |     |  | Cogeneration                                              |  | LLEIDA                     |  | 27.00 |  | 27.00 |  | 0.6  |  | 0.3   |   | 0.0  |  
|                                | Calizas Elycar, S.L.                                          |  |  |  | EM |  | (8)  |  | Construction and operation of a cogeneration plant        |  | HUESCA                     |  | 25.00 |  | 25.00 |  | 1.8  |  | 0.2   |   | 0.1  |  
|                                | Cogeneracion Tolosana, A.I.E.                                 |  |  |  | EM |  | (4)  |  | Cogeneration                                              |  | GUIPUZCOA                  |  | 25.00 |  | 25.00 |  | 0.6  |  | 0.0   |   | 0.0  |  
|                                | Corporacion Eolica Zaragoza, S.L.                             |  |  |  | EM |  |     |  | Wind power                                                |  | ZARAGOZA                   |  | 25.00 |  | 25.00 |  | 2.5  |  | 0.3   |   | 0.1  |  
|                                | Ecoenergia de Can Mata, A.I.E.                                |  |  |  | NC |  | (1)  |  | Treatment of urban solid waste                            |  | MURCIA                     |  | 25.00 |  | 25.00 |  | 0.2  |  | 0.1   |   | (0.1 | )
|                                | Foraneto, S.L.                                                |  |  |  | EM |  | (3)  |  | Cogeneration                                              |  | BARCELONA                  |  | 25.00 |  | 25.00 |  | 0.1  |  | 0.2   |   | (1.0 | )
|                                | Hidroelectrica del Piedra, S.L.                               |  |  |  | NC |  | (8)  |  | Production and sale of electric power                     |  | ZARAGOZA                   |  | 25.00 |  | 25.00 |  | 0.2  |  | 0.2   |   | 0.1  |  
|                                | Puignerel, A.I.E.                                             |  |  |  | EM |  | (15) |  | Cogeneration                                              |  | BARCELONA                  |  | 25.00 |  | 25.00 |  | 11.3 |  | (11.3 | ) | (0.1 | )
|                                | Cogeneracion El Salto, S.L.                                   |  |  |  | NC |  |     |  | Cogeneration                                              |  | ZARAGOZA                   |  | 20.00 |  | 20.00 |  | 0.0  |  | 0.0   |   | 0.0  |  
|                                | Cogeneracion Lipsa, S.L. (COLIPSA)                            |  |  |  | NC |  | (2)  |  | Cogeneration                                              |  | BARCELONA                  |  | 20.00 |  | 20.00 |  | 0.7  |  | 0.2   |   | 0.1  |  
|                                | Sotavento Galicia, S.A.                                       |  |  |  | NC |  | (6)  |  | Wind power                                                |  | A CORUÑA                   |  | 18.00 |  | 18.00 |  | 0.6  |  | 0.7   |   | 0.1  |  
|                                | Eolicas de Canarias, S.L.                                     |  |  |  | NC |  |     |  | Wind power                                                |  | LAS PALMAS DE GRAN CANARIA |  | 8.00  |  | 8.00  |  | 0.3  |  | 0.0   |   | 0.0  |  
|                                | Minicentrales Acequia Cinco Villas, A.I.E.                    |  |  |  | NC |  | (9)  |  | Mini-hydroelectric plants                                 |  | ZARAGOZA                   |  | 15.00 |  | 15.00 |  | 1.2  |  | (1.1  | ) | 0.0  |  
|                                | Minicentrales Canal de Las Bardenas, A.I.E.                   |  |  |  | NC |  | (13) |  | Mini-hydroelectric plants                                 |  | ZARAGOZA                   |  | 15.00 |  | 15.00 |  | 1.2  |  | 1.1   |   | 0.5  |  
|                                | Tirmadrid, S.A.                                               |  |  |  | NC |  | (1)  |  | Solid waste treatment                                     |  | MADRID                     |  | 15.00 |  | 15.00 |  | 16.8 |  | 1.2   |   | 3.2  |  
|                                | Allarluz, S.A.                                                |  |  |  | NC |  | (21) |  | Biomass                                                   |  | ORENSE                     |  | 12.99 |  | 12.99 |  | 1.6  |  | (0.9  | ) | 0.0  |  
|                                | Groberel A.I.E.                                               |  |  |  | NC |  | (1)  |  | Cogeneration                                              |  | GIRONA                     |  | 12.00 |  | 12.00 |  | 0.0  |  | 0.2   |   | 0.2  |  
|                                | Fibrel, A.I.E.                                                |  |  |  | NC |  | (3)  |  | Cogeneration                                              |  | GIRONA                     |  | 10.00 |  | 10.00 |  | 3.3  |  | 0.7   |   | 0.2  |  
|                                | Hisane, A.I.E.                                                |  |  |  | NC |  | (4)  |  | Cogeneration                                              |  | TARRAGONA                  |  | 10.00 |  | 10.00 |  | 0.0  |  | 0.0   |   | 0.0  |  
|                                | Idae Opel, U.T.E.                                             |  |  |  | NC |  |     |  | Cogeneration                                              |  | MADRID                     |  | 10.00 |  | 10.00 |  | 1.4  |  | (0.1  | ) | 0.2  |  
|                                | Sistemas Energeticos Mañon Ortigueira, S.A.                   |  |  |  | NC |  | (1)  |  | Wind power                                                |  | A CORUÑA                   |  | 10.00 |  | 10.00 |  | 4.5  |  | 0.7   |   | 0.4  |  
|                                | Tractaments i Revaloriz. de Residuos del Maresme, S.A. (TVRM) |  |  |  | NC |  | (27) |  | Cogeneration                                              |  | BARCELONA                  |  | 10.00 |  | 10.00 |  | 3.6  |  | 1.6   |   | 1.6  |  
|                                | Vapor y Electricidad El Tejar, S.L. (VETEJAR)                 |  |  |  | NC |  | (26) |  | Construction and operation of plants fueled by farm waste |  | CORDOBA                    |  | 8.67  |  | 8.67  |  | 1.5  |  | 0.0   |   | 0.0  |  
|                                | Electrometalurgica del Ebro, S.A.                             |  |  |  | NC |  | (1)  |  | Mini-hydroelectric plants                                 |  | BARCELONA                  |  | 8.60  |  | 8.60  |  | 0.1  |  | 4.1   |   | 0.0  |  
|                                | KW Tarifa, S.A.                                               |  |  |  | NC |  | (1)  |  | Wind power                                                |  | CADIZ                      |  | 7.30  |  | 7.30  |  | 5.1  |  | 3.4   |   | (0.8 | )
|                                | A. E. Ciutat Sanitaria Vall d'Hebron, A.I.E.                  |  |  |  | NC |  | (20) |  | Cogeneration                                              |  | BARCELONA                  |  | 6.25  |  | 6.25  |  | 1.7  |  | 0.2   |   | 0.0  |  
|                                | Puerto Real Cogeneracion, S.A. (PRECOSA)                      |  |  |  | NC |  |     |  | Cogeneration                                              |  | CADIZ                      |  | 4.54  |  | 4.54  |  | 0.6  |  | (1.4  | ) | (1.2 | )
|DIVERSIFICATION/WATER UTILITIES |                                                              
|Endesa Diversificacion, S.A.    |                                                               |  |  |  |    |  |      |  |                                                           |  |                            |  |       |  |       |  |      |  |       |   |     
|                                | Nueva Nuinsa                                                  |  |  |  | NC |  |      |  |                                                           |  |                            |  |       |  |       |  |      |  |       |   |      |  
|                                |                                                               |  |  |  |    |  |      |  |                                                           |  |                            |  |       |  |       |  |      |  |       |   |     

5

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|                                   | Desaladora de la Costa del Sol, S.A. (DECOSOL)              |                           |  |    | NC |     | (3) |                                                          | Water supply and desalination services                                 |                                               | MALAGA         |        | 50.00  |        | 50.00  |         | 6.0     |         | (23.4  | )     | (4.4  | )  
|---------------------------------- | ----------------------------------------------------------- | ------------------------- |  | -- | -- | --- | --- | -------------------------------------------------------- | ---------------------------------------------------------------------- | --------------------------------------------- | -------------- | ------ | ------ | ------ | ------ | ------- | ------- | ------- | ------ | ----- | ----- | ---
|                                   | Sociedad General de Aguas de Barcelona, S.A. (AGBAR)        |                           |  |    | EM |     | (1) |                                                          | Distribution and supply of potable water                               |                                               | BARCELONA      |        | 11.64  |        | 11.64  |         | 145.9   |         | 806.4  |       | 194.1 |    
|DIVERSIFICATION/TELECOMMUNICATIONS |                                                            
|Endesa Diversificacion, S.A.       |                                                             |                           |  |    |    |     |     |                                                          |                                                                        |                                               |                |        |        |        |        |         |         |         |        |       |      
|                                   | Endesa Ingenieria de Telecomunicaciones I, S.L. (ENDITEL I) |                           |  |    | EM |     | (1) |                                                          | Consulting and engineering services                                    |                                               | SEVILLE        |        | 100.00 |        | 100.00 |         | 5.0     |         | 3.5    |       | 1.7   |    
|                                   | Smartcom Pcs                                                |                           |  |    | EM |     | (1) |                                                          | Wireless telephony operator                                            |                                               | SANTIAGOCHILE |        | 100.00 |        | 100.00 |         | 626.0   |         | (395.0 | )     | (34.0 | )  
|                                   | Netco Redes, S.A.                                           |                           |  |    | FC |     | (1) |                                                          | Telecommunications infrastructure                                      |                                               | MADRID         |        | 50.55  |        | 50.55  |         | 6.0     |         | 68.2   |       | 7.2   |    
|                                   | Multimedia de Cable, S.A.                                   |                           |  |    | NC |     | (1) |                                                          | Telecommunications                                                     |                                               | BARCELONA      |        | 38.87  |        | 38.87  |         | 11.6    |         | (11.9  | )     | (0.9  | )  
|                                   | AUNA Operadores de Telecomunicaciones, S.A.                 |                           |  |    | EM |     | (1) |                                                          | Telecommunications services                                            |                                               | BARCELONA      |        | 29.61  |        | 30.18  |         | 2,197.9 |         | 110.8  |       | (55.0 | )  
|                                   | Euskaltel, S.A.                                             |                           |  |    | NC |     | (4) |                                                          | Operation and marketing of telecommunications networks and services    |                                               | BILBAO         |        | 10.00  |        | 10.62  |         | 325.2   |         | (45.0  | )     | 0.3   |    
|                                   | Retecal, S.A.                                               |                           |  |    | NC |     |    |                                                          | Cable operator                                                         |                                               | VALLADOLID     |        | 0.21   |        | 0.21   |         | 87.1    |         | (17.4  | )     | S/D   |    
|                                   | Made Torres y Herrajes, S.A.                                |                           |  |    | NC |     |    |                                                          | Manufacture of electricity pylons and telecommunications towers        |                                               | VALLADOLID     |        | 0.03   |        | 0.03   |         | 2.4     |         | S/D    |       | S/D   |    
|Endesa Net Factory, S.L.           |                                                             |                           |  | FC |    | (1) |     | Complete e-commerce, Internet and new technologies cycle |                                                                        | MADRID                                        |                | 100.00 |        | 100.00 |        | 8.3     |         | (7.0    | )      | (5.0  | )    
|                                   | Diseño de Sistemas en Silicio, S.A. (DS2)                   |                           |  |    | NC |     | (4) |                                                          | Voice transmission solutions using the electricity system              |                                               | CASTELLÓN      |        | 14.71  |        | 14.71  |         | 0.6     |         | 18.6   |       | 0.2   |    
|                                   | Eutilia, N.V.                                               |                           |  |    | NC |     | (1) |                                                          | B2B market                                                             |                                               | LEIDENHOLLAND |        | 9.81   |        | 9.81   |         | 0.1     |         | 5.4    |       | (7.7  | )  
|                                   | Buongiorno Vitaminic, S.P.A.                                |                           |  |    | NC |     | (4) |                                                          | Management of Internet and wireless telephony services                 |                                               | MADRID         |        | 0.64   |        | 0.64   |         | 17.6    |         | S/D    |       | S/D   |    
|Endesa Servicios, S.L.             |                                                             |                           |  |    |    |     |     |                                                          |                                                                        |                                               |                |        |        |        |        |         |         |         |        |       |      
|                                   | Mundivia, S.A.                                              |                           |  |    | NC |     | (1) |                                                          | Research and operation of IT and telecommunications services           |                                               | SANTANDER      |        | 85.00  |        | 85.00  |         | 0.6     |         | 1.7    |       | 0.8   |    
|                                   | Endesa Marketplace, S.A.                                    |                           |  |    | FC |     | (1) |                                                          | B2B transactions using the Internet                                    |                                               | MADRID         |        | 78.00  |        | 72.09  |         | 6.7     |         | (2.6   | )     | (6.4  | )  
|                                   | Sadiel, S.A.                                                |                           |  |    | NC |     | (1) |                                                          | IT and electronics research and development                            |                                               | SEVILLE        |        | 37.50  |        | 37.50  |         | 0.7     |         | 8.2    |       | 2.6   |    
|                                   | Net Tecnologia de la Informacion, A.I.E.                    |                           |  |    | NC |     |    |                                                          | Promotion and coordination of IT and telecommunications services       |                                               | MADRID         |        | 33.33  |        | 33.33  |         | S/D     |         | S/D    |       | S/D   |    
|DIVERSIFICATION/OTHER              |                                                            
|Apamea 2000, S.L.                  |                                                             |                           |  | NC |    |    |     | Electricity distribution activities                      |                                                                        | MADRID                                        |                | 100.00 |        | 100.00 |        | 0.0     |         | 0.0     |        | 0.0   |      
|Endesa Diversificacion, S.A.       |                                                             |                           |  | FC |    | (1) |     | Portfolio company                                        |                                                                        | MADRID                                        |                | 100.00 |        | 100.00 |        | 455.0   |         | (195.0  | )      | (26.0 | )    
|                                   | Nueva Nuinsa, S.L.                                          |                           |  |    | NC |     | (1) |                                                          | Regional diversification                                               |                                               | SEVILLE        |        | 100.00 |        | 100.00 |         | 54.6    |         | 9.4    |       | 4.1   |    
|                                   | Senda Ambiental, S.A.                                       |                           |  |    | EM |     | (1) |                                                          | Recycling, clean-up and management activities at landfills             |                                               | BARCELONA      |        | 100.00 |        | 100.00 |         | 0.4     |         | 0.9    |       | 0.1   |    
|                                   | Desaladora de Carboneras, U.T.E.                            |                           |  |    | NC |     | (3) |                                                          | Technical assistance and operation of desalination facilities          |                                               | ALMERIA        |        | 75.00  |        | 75.00  |         | 0.0     |         | 0.0    |       | 0.0   |    
|Endesa Financiacion Filiales, S.A. |                                                             |                           |  | FC |    | (1) |     | Gestión de financiación de filiales                      |                                                                        | MADRID                                        |                | 100.00 |        | 100.00 |        | 4,621.0 |         | 4,658.0 |        | 137.0 |      
|Endesa Generacion, S. A.           |                                                             |                           |  |    |    |     |     |                                                          |                                                                        |                                               |                |        |        |        |        |         |         |         |        |       |      
|                                   | Andorra Desarrollo, S.A.                                    |                           |  |    | NC |     |    |                                                          | Regional development                                                   |                                               | TERUEL         |        | 100.00 |        | 100.00 |         | 0.9     |         | 0.0    |       | 0.0   |    
|                                   | Desarrollo Tecnologico Nuclear, S.L. (DTN)                  |                           |  |    | NC |     |    |                                                          | Research and development in relation to nuclear electricity facilities |                                               | MADRID         |        | 46.35  |        | 46.35  |         | 0.4     |         | (0.1   | )     | (0.6  | )  
|                                   | Tecnatom, S.A.                                              |                           |  |    | NC |     |    |                                                          | Services for electric power production facilities                      |                                               | MADRID         |        | 45.00  |        | 45.00  |         | 4.0     |         | 13.1   |       | 0.7   |    
|                                   | Nuclenor, S.A.                                              |                           |  |    |    |     |     |                                                          |                                                                        |                                               |                |        |        |        |        |         |         |         |        |       |       |    
|                                   |                                                             | Medidas Ambientales, S.L. |  |    |    | NC  |     |                                                         |                                                                        | Environmental analysis and control activities |                | MADRID |        | 50.00  |        | 25.00   |         | 0.1     |        | 0.0   |       | 0.0
|                                   |                                                             |                           |  |    |    |     |     |                                                          |                                                                        |                                               |                |        |        |        |        |         |         |         |        |       |      

6

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|                                                             |                                                | Gestion Aeropuerto de Burgos, S.A. (GABSA)                     |   |    |    | NC  |     |                                              |                                               | Airport services                                                |                        | BURGOS                 |        | 1.70   |        | 0.85    |             | 1.1     |           | 0.0      |          | S/D      | 
|------------------------------------------------------------ | ---------------------------------------------- | -------------------------------------------------------------- | - | -- | -- | --- | --- | --------------------------------------------- | --------------------------------------------- | --------------------------------------------------------------- | ---------------------- | ---------------------- | ------ | ------ | ------ | ------- | ----------- | ------- | --------- | -------- | -------- | -------- | 
|                                                             |                                                | Miranda Plataforma Logistica, S.A.                             |   |    |    | NC  |     |                                              |                                               | Infrastructure development and management in Miranda de Ebro    |                        | BURGOS                 |        | 0.33   |        | 0.17    |             | 1.8     |           | 0.0      |          | S/D      | 
|                                                             | Sdad. Desarrollo Sierra Morena Cordobesa, S.A. |                                                                |   |    | NC |     |    |                                               | Regional development                          |                                                                 | CORDOBA                |                        | 1.82   |        | 1.82   |         | 14.3        |         | S/D       |          | S/D      |         
|Endesa North America Inc.                                    |                                                | f                                                              |   | NC |    |    |     | Representation office in Europe for investors |                                               | NEW YORKU.S.A.                                                 |                        | 100.00                 |        | 100.00 |        | 0.0     |             | 0.0     |           | 0.0      |         
|Endesa Red, S.A.                                             |                                                |                                                                |   |    |    |     |     |                                               |                                               |                                                                 |                        |                        |        |        |        |         |             |         |           |          |         
|                                                             | Endesa Distribucion Electrica, S.L.            |                                                                |   |    |    |     |     |                                               |                                               |                                                                 |                        |                        |        |        |        |         |             |         |           |          |          |         
|                                                             |                                                | Agrupacion Acefhat, A.I.E.                                     |   |    |    | NC  |     |                                              |                                               | Integral management of works on public thoroughfares            |                        | BARCELONA              |        | 16.67  |        | 21.70   |             | 0.8     |           | 0.0      |          | 0.0      | 
|Endesa Servicios, S.L.                                       |                                                |                                                                |   | FC |    | (1) |     | Provision of services to companies            |                                               | MADRID                                                          |                        | 100.00                 |        | 100.00 |        | 85.0    |             | 0.0     |           | 6.0      |         
|                                                             | Triema, S.A.                                   |                                                                | b |    | NC |     |    |                                               | Management system marketing services          |                                                                 | BUENOS AIRESARGENTINA |                        | 55.00  |        | 55.00  |         | 0.0         |         | (0.2      | )        | (0.1     | )       
|                                                             | Instituto de la Calidad, S.A.                  |                                                                |   |    | NC |     | (1) |                                               | Quality-related services                      |                                                                 | SEVILLE                |                        | 46.73  |        | 46.73  |         | 0.3         |         | 0.1       |          | 0.1      |         
|International Endesa, B.V. (IEBV)                            |                                                |                                                                |   | FC |    | (1) |     | International financial transactions          |                                               | AMSTERDAMHOLLAND                                               |                        | 100.00                 |        | 100.00 |        | 15.0    |             | 5.0     |           | 4.0      |         
|                                                             | Endesa Capital Finance, L.L.C.                 |                                                                |   |    | FC |     | (1) |                                               | Issue of preferred shares                     |                                                                 | NEWARKU.S.A.          |                        | 100.00 |        | 100.00 |         | S/D         |         | S/D       |          | S/D      |         
|Nubia 2000, S.L.                                             |                                                |                                                                |   | NC |    |    |     | Electricity generation activities             |                                               | MADRID                                                          |                        | 100.00                 |        | 100.00 |        | 0.0     |             | 0.0     |           | 0.0      |         
|Nueva Compañia de Distribucion Electrica 2, S.L.             |                                                |                                                                |   | NC |    |    |     | Electricity distribution activities           |                                               | MADRID                                                          |                        | 100.00                 |        | 100.00 |        | 0.0     |             | 0.0     |           | 0.0      |         
|Nueva Compañia de Distribucion Electrica 3, S.L.             |                                                |                                                                |   | NC |    |    |     | Electricity distribution activities           |                                               | MADRID                                                          |                        | 100.00                 |        | 100.00 |        | 0.0     |             | 0.0     |           | 0.0      |         
|Nueva Compañia de Distribucion Electrica 4, S.L.             |                                                |                                                                |   | NC |    |    |     | Electricity distribution activities           |                                               | MADRID                                                          |                        | 100.00                 |        | 100.00 |        | 0.0     |             | 0.0     |           | 0.0      |         
|Sdad. Gestion de Activos de Generacion Electrica, S.L.       |                                                |                                                                |   | NC |    |    |     | Electricity generation activities             |                                               | MADRID                                                          |                        | 100.00                 |        | 100.00 |        | 0.0     |             | 0.0     |           | 0.0      |         
|Sdad. Gestion de Activos de Distribucion Electrica, S.L.     |                                                |                                                                |   | NC |    |    |     | Electricity generation activities             |                                               | MADRID                                                          |                        | 100.00                 |        | 100.00 |        | 0.0     |             | 0.0     |           | 0.0      |         
|Teneguia Gestion Financiera, S.L.                            |                                                |                                                                |   | NC |    | (1) |     | Finance                                       |                                               | SANTA CRUZ DE TENERIFE                                          |                        | 100.00                 |        | 100.00 |        | 20.0    |             | 0.0     |           | 0.1      |         
|Teneguia Gestion Financiera, S. Comanditaria                 |                                                |                                                                |   | FC |    | (1) |     | Finance                                       |                                               | SANTA CRUZ DE TENERIFE                                          |                        | 95.72                  |        | 95.72  |        | 1,567.0 |             | 7.0     |           | 52.0     |         
|Interbolsa, S.A.                                             |                                                |                                                                |   | NC |    |    |     | Stockbroking                                  |                                               | MADRID                                                          |                        | 20.00                  |        | 20.00  |        | 0.0     |             | 0.0     |           | 0.0      |         
|Corporacion Empresarial de Extremadura, S.A.                 |                                                |                                                                |   | NC |    |    |     | Regional promotion                            |                                               | BADAJOZ                                                         |                        | 2.55                   |        | 2.55   |        | S/D     |             | S/D     |           | S/D      |         
|Sociedad de Fomento Industrial de Extremadura, S.A. (SOFIEX) |                                                |                                                                |   | NC |    |    |     | Regional development                          |                                               | BADAJOZ                                                         |                        | 0.60                   |        | 0.60   |        | S/D     |             | S/D     |           | S/D      |         
|LATIN AMERICA                                                |                                               
|Endesa Internacional, S.A.                                   |                                                |                                                                |   | FC |    | (1) |     | Endesa Group's international business lines   |                                               | MADRID                                                          |                        | 100.00                 |        | 100.00 |        | 2,931.0 |             | (707.0  | )         | 83.0     |         
|                                                             | Enersis S.A.                                   |                                                                | a |    | FC |     | (1) |                                               | Production and distribution of electric power |                                                                 | SANTIAGOCHILE         |                        | 60.62  |        | 60.62  |         | 2,227,711.0 |         | 308,213.0 |          | 12,468.0 |         
|                                                             |                                                | Inversiones Distrilima, S.A. (DISTRILIMA)                      |   | d  |    | FC  |     | (1)                                           |                                               | Portfolio company                                               |                        | LIMAPERU              |        | 86.14  |        | 63.76   |             | 487.0   |           | 227.0    |          | 56.0     | 
|                                                             |                                                | Cia. Americana de Multiserv. de Argentina, S.A.(CAM ARGENTINA) |   | b  |    | FC  |     | (1)                                           |                                               | Construc. of electricity, postal and measur. calib. networks    |                        | BUENOS AIRESARGENTINA |        | 100.00 |        | 60.62   |             | 1.0     |           | 1.0      |          | 0.0      | 
|                                                             |                                                | Cia.Americana de Multiservicios del Peru, S.A.(CAM PERU)       |   | d  |    | FC  |     | (1)                                           |                                               | Purchase, sale and distribution of electricity-related products |                        | LIMAPERU              |        | 100.00 |        | 60.62   |             | 1.0     |           | 10.0     |          | 5.0      | 
|                                                             |                                                | Cia. Americana de Multiservicios Ltda. (CAM CHILE)             |   | a  |    | FC  |     | (1)                                           |                                               | Purchase and sale of electricity products                       |                        | SANTIAGOCHILE         |        | 100.00 |        | 60.62   |             | 2,572.0 |           | 21,700.0 |          | 10,820.0 | 
|                                                             |                                                |                                                                |   |    |    |     |     |                                               |                                               |                                                                 |                        |                        |        |        |        |         |             |         |           |          |         

7

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| |              | Constructora el Gobernador Ltda.                              |   | a |    | FC |     | (1)  |                               | Construction, operation and marketing of construction work        |                | SANTIAGOCHILE              |       | 100.00 |       | 60.62 |             | 19.0        |           | 11.0        |          | 0.0       |  
| | ------------ | ------------------------------------------------------------- | - | - | -- | -- | --- | ---- | ----------------------------- | ----------------------------------------------------------------- | -------------- | --------------------------- | ----- | ------ | ----- | ----- | ----------- | ----------- | --------- | ----------- | -------- | --------- | -
| |              | Enersis Energia de Colombia, S.A.                             |   | e |    | FC |     | (1)  |                               | Portfolio company                                                 |                | BOGOTACOLOMBIA             |       | 100.00 |       | 60.62 |             | S/D         |           | S/D         |          | S/D       |  
| |              | Enersis Internacional                                         |   | a |    | FC |     | (1)  |                               | Portfolio company                                                 |                | GRAND CAYMANCAYMAN ISLANDS |       | 100.00 |       | 60.62 |             | 204,681.0   |           | 132,159.0   |          | (36,689.0 | )
| |              | Inmobiliaria Manso de Velasco Ltda.                           |   | a |    | FC |     | (1)  |                               | Lease and administration of movable property                      |                | SANTIAGOCHILE              |       | 100.00 |       | 60.62 |             | 5,849.0     |           | 34,837.0    |          | 1,307.0   |  
| |              | Sociedad Agricola El Gobernador Ltda.                         |   | a |    | FC |     | (1)  |                               | Exploitation of farm land                                         |                | SANTIAGOCHILE              |       | 100.00 |       | 60.62 |             | 29.0        |           | 14.0        |          | 0.0       |  
| |              | Synapsis Argentina, S.A.                                      |   | b |    | FC |     | (1)  |                               | IT services                                                       |                | BUENOS AIRESARGENTINA      |       | 100.00 |       | 60.62 |             | 0.0         |           | 0.0         |          | 9.0       |  
| |              | Synapsis Brasil Ltda.                                         |   | c |    | FC |     | (1)  |                               | IT services                                                       |                | RIO DE JANEIROBRAZIL       |       | 100.00 |       | 60.62 |             | 0.0         |           | 1.0         |          | 9.0       |  
| |              | Synapsis Colombia Ltda.                                       |   | e |    | FC |     | (1)  |                               | IT services                                                       |                | BOGOTACOLOMBIA             |       | 100.00 |       | 60.62 |             | 238.0       |           | 2,911.0     |          | 3,076.0   |  
| |              | Synapsis Peru, S.A.                                           |   | d |    | FC |     | (1)  |                               | IT and telecommunications services and products                   |                | LIMAPERU                   |       | 100.00 |       | 60.62 |             | 1.0         |           | 1.0         |          | 1.0       |  
| |              | Synapsis Soluciones y Servicios, Ltda.                        |   | a |    | FC |     | (1)  |                               | Supply and marketing of computer hardware                         |                | SANTIAGOCHILE              |       | 100.00 |       | 60.62 |             | 3,944.0     |           | 335.0       |          | 5,943.0   |  
| |              | CAM Brasil Multiservicios Ltda. (CAM BRASIL)                  |   | c |    | FC |     | (1)  |                               | Purchase, sale and dist. of electricity-related products          |                | BRAZIL                      |       | 99.99  |       | 60.62 |             | 330.0       |           | (136.0      | )        | 409.0     |  
| |              | Cia. Americana de Multiserv. de Colombia, S.A. (CAM COLOMBIA) |   | e |    | FC |     | (1)  |                               | Technical calibration and measurement services                    |                | BOGOTACOLOMBIA             |       | 99.99  |       | 60.62 |             | 1,616.0     |           | 6,380.0     |          | 3,991.0   |  
| |              | Luz de Rio Ltda.                                              |   | c |    | FC |     | (1)  |                               | Portfolio company                                                 |                | RIO DE JANEIROBRAZIL       |       | 100.00 |       | 60.02 |             | 1.0         |           | (255.0      | )        | 41.0      |  
| |              | Chilectra Internacional                                       |   | a |    | FC |     | (3)  |                               | Portfolio company                                                 |                | GRAND CAYMANCAYMAN ISLANDS |       | 100.00 |       | 59.57 |             | 66,998.0    |           | 26,982.0    |          | (6,440.0  | )
| |              | Chilectra S.A.                                                |   | a |    | FC |     | (3)  |                               | Distribution and sale of electricity                              |                | SANTIAGOCHILE              |       | 98.25  |       | 59.57 |             | 284,941.0   |           | 90,085.0    |          | 51,470.0  |  
| |              | Diprel Brasil Ltda.                                           |   | c |    | NC |     | (1)  |                               | Portfolio company                                                 |                | RIO DE JANEIROBRAZIL       |       | 100.00 |       | 60.62 |             | S/D         |           | S/D         |          | S/D       |  
| |              | Empresa Electrica de Colina Ltda.                             |   | a |    | FC |     | (3)  |                               | Complete electricity and related materials cycle                  |                | COLINACHILE                |       | 100.00 |       | 59.57 |             | 88.0        |           | 478.0       |          | 677.0     |  
| |              | Luz Andes Ltda.                                               |   | a |    | FC |     | (3)  |                               | Transmission, distribution and sale of energy and fuels           |                | SANTIAGOCHILE              |       | 100.00 |       | 59.57 |             | 1.0         |           | 1,062.0     |          | 99.0      |  
| |              | Cerj Overseas Inc.                                            |   | c |    | FC |     | (1)  |                               | Portfolio company                                                 |                | PANAMÁ                      |       | 100.00 |       | 59.20 |             | 0.0         |           | (212.0      | )        | 61.0      |  
| |              | Companhia de Electricidade do Rio de Janeiro S.A. (CERJ)      |   | c |    | FC |     | (1)  |                               | Production, transmission and distribution of electricity          |                | RIO DE JANEIROBRAZIL       |       | 88.20  |       | 59.20 |             | 915.0       |           | (488.0      | )        | (75.0     | )
| |              | Empresa Distribuidora Sur S.A. (EDESUR)                       |   | b |    | FC |     | (1)  |                               | Distribution and retailing of electric power                      |                | BUENOS AIRESARGENTINA      |       | 99.43  |       | 45.68 |             | 2,076.0     |           | 66.0        |          | (17.0     | )
| |              | Companhia Energetica do Ceara, S.A. (COELCE).                 |   | c |    | FC |     | (1)  |                               | Complete electric power cycle                                     |                | FORTALEZABRAZIL            |       | 58.86  |       | 44.59 |             | 433.0       |           | 705.0       |          | 38.0      |  
| |              | Codensa, S.A.                                                 |   | e |    | FC |     | (1)  |                               | Distribution and retailing of electric power                      |                | BOGOTACOLOMBIA             |       | 48.48  |       | 43.95 |             | 1,320,928.0 |           | 2,287,036.0 |          | 147,984.0 |  
| |              | Empresa de Distribuc. Elec. de Lima Norte, S.A. (EDELNOR)     |   | d |    | FC |     | (1)  |                               | Generation, transmission and distribution of electric power       |                | LIMAPERU                   |       | 60.00  |       | 38.26 |             | 1,092.0     |           | 97.0        |          | 93.0      |  
| |              | Sociedad Agricola de Cameros Ltda.                            |   | a |    | FC |     | (1)  |                               | Exploitation of farm land                                         |                | SANTIAGOCHILE              |       | 57.50  |       | 34.86 |             | 5,738.0     |           | 1,268.0     |          | (88.0     | )
| |              | Aguas Santiago Poniente, S.A.                                 |   | a |    | FC |     | (1)  |                               | Production and distribution of potable water                      |                | SANTIAGOCHILE              |       | 55.00  |       | 33.34 |             | 2,971.0     |           | (677.0      | )        | (101.0    | )
| |              | Construcciones y Proyectos Los Maitenes, S.A.                 |   | a |    | FC |     | (1)  |                               | Civil works and construction of facilities                        |                | SANTIAGOCHILE              |       | 55.00  |       | 33.34 |             | 3,680.0     |           | (3,299.0    | )        | 901.0     |  
| |              | Sociedad Agricola Pastos Verdes Ltda.                         |   | a |    | FC |     | (1)  |                               | Exploitation of farm land                                         |                | SANTIAGOCHILE              |       | 55.00  |       | 33.34 |             | 37,029.0    |           | 32,235.0    |          | 789.0     |  
| |              | Distrilec Inversora S.A.                                      |   | b |    | FC |     | (1)  |                               | Portfolio company                                                 |                | BUENOS AIRESARGENTINA      |       | 51.51  |       | 30.76 |             | 1,111.0     |           | 139.0       |          | (13.0     | )
| |              | Sacme, S.A.                                                   |   | b |    | EM |     | (28) |                               | Supervision and control of the electricity system in Buenos Aires |                | BUENOS AIRESARGENTINA      |       | 50.00  |       | 22.84 |             | 0.0         |           | 0.7         |          | 0.0       |  
| | Endesa Chile |                                                               | a |   | FC |    | (2) |      | Complete electric power cycle |                                                                   | SANTIAGOCHILE |                             | 59.98 |        | 36.36 |       | 1,039,796.0 |             | 374,742.0 |             | 78,131.0 |          
| |              | Transportadora de Energia, S.A.                               |   | b |    | FC |     | (1)  |                               | Generation, transmission and distribution of electric power       |                | ARGENTINA                   |       | 100.00 |       | 71.35 |             | 56.0        |           | 12.0        |          | 14.0      |  
| |              |                                                               |   |   |    |    |     |      |                               |                                                                   |                |                             |       |        |       |       |             |             |           |             |         

8

---



| |  | Capital de Energia S.A.                                |  | e |  | FC |  | (1) |  | Portfolio company                                                 |  | BOGOTACOLOMBIA            |  | 100.00 |  | 64.88 |  | 195,351.0   |  | 2,181,594.0 |   | 86,294.0  |  
| |  | ------------------------------------------------------ |  | - |  | -- |  | --- |  | ----------------------------------------------------------------- |  | -------------------------- |  | ------ |  | ----- |  | ----------- |  | ----------- | - | --------- | -
| |  | Compañia Electrica Cono Sur, S.A.                      |  | a |  | FC |  | (2) |  | Portfolio company                                                 |  | PANAMÁ                     |  | 100.00 |  | 36.36 |  | 892,852.0   |  | 286,356.4   |   | (71,496.0 | )
| |  | Compañia Electrica Tarapaca, S.A. (CELTA)              |  | a |  | FC |  | (2) |  | Complete electric power cycle                                     |  | SANTIAGOCHILE             |  | 100.00 |  | 36.36 |  | 80,500.0    |  | (8,113.0    | ) | 8,116.0   |  
| |  | Endesa Chile Internacional                             |  | f |  | FC |  | (2) |  | Portfolio company                                                 |  | GEORGE TOWNCAYMAN ISLANDS |  | 100.00 |  | 36.36 |  | 518,138.0   |  | (70,946.0   | ) | (82,066.0 | )
| |  | Endesa de Colombia, S.A.                               |  | e |  | FC |  | (1) |  | Portfolio company                                                 |  | NEIVACOLOMBIA             |  | 100.00 |  | 36.36 |  | 4,511.0     |  | 147,675.0   |   | (6,808.0  | )
| |  | Inverandes, S.A.                                       |  | b |  | NC |  | (1) |  | Portfolio company                                                 |  | ARGENTINA                  |  | 100.00 |  | 36.36 |  | 3.4         |  | S/D         |   | S/D       |  
| |  | Inversiones Endesa Norte, S.A.                         |  | a |  | FC |  | (2) |  | Portfolio company                                                 |  | SANTIAGOCHILE             |  | 100.00 |  | 36.36 |  | 72,279.0    |  | 1,512.0     |   | 6,704.0   |  
| |  | Endesa Argentina, S.A.                                 |  | b |  | FC |  | (1) |  | Portfolio company                                                 |  | BUENOS AIRESARGENTINA     |  | 99.99  |  | 36.36 |  | 85.0        |  | (187.0      | ) | 238.0     |  
| |  | Endesa Brasil Participaçoes Ltda.                      |  | a |  | FC |  | (1) |  | Portfolio company                                                 |  | RIO DE JANEIROBRAZIL      |  | 100.00 |  | 36.36 |  | 0.1         |  | 1.9         |   | (7.0      | )
| |  | Endesa Inversiones Generales, S.A. (ENIGESA)           |  | a |  | FC |  | (2) |  | Portfolio company                                                 |  | SANTIAGOCHILE             |  | 100.00 |  | 36.35 |  | 1,021.0     |  | 269.0       |   | 1,111.0   |  
| |  | Sdad. Concesionaria del Tunel el Melon, S.A.           |  | a |  | NC |  | (2) |  | Execution, construction and exploitation of the "El Melón" tunnel |  | SANTIAGOCHILE             |  | 99.95  |  | 36.34 |  | 8,714.0     |  | (12,988.0   | ) | (2,266.0  | )
| |  | Ingendesa do Brasil, Ltda.                             |  | a |  | NC |  | (1) |  | Project engineering consulting services                           |  | RIO DE JANEIROBRAZIL      |  | 100.00 |  | 35.51 |  | 117,570.0   |  | (73,416.0   | ) | 116,670.0 |  
| |  | Empresa de Ingenieria Ingendesa, S.A. (INGENDESA)      |  | a |  | FC |  | (2) |  | Engineering services                                              |  | SANTIAGOCHILE             |  | 97.64  |  | 35.50 |  | 1,880.0     |  | 156.0       |   | 1,602.0   |  
| |  | Empresa Electrica Pangue, S.A.                         |  | a |  | FC |  | (2) |  | Complete electric power cycle                                     |  | SANTIAGOCHILE             |  | 99.99  |  | 39.54 |  | 71,796.0    |  | 87.0        |   | 37,166.0  |  
| |  | Empresa Generadora de Energia Electrica, S.A. (EMGESA) |  | e |  | FC |  | (1) |  | Electric power production                                         |  | BOGOTACOLOMBIA            |  | 48.48  |  | 35.62 |  | 1,530,694.0 |  | 2,778,083.0 |   | 193,968.0 |  
| |  | Lajas Inversora, S.A.                                  |  | a |  | FC |  | (2) |  | Portfolio company                                                 |  | PANAMÁ                     |  | 100.00 |  | 33.77 |  | 410,847.0   |  | (9,265.0    | ) | 3,267.0   |  
| |  | Empresa Electrica Pehuenche, S.A.                      |  | a |  | FC |  | (2) |  | Complete electric power cycle                                     |  | SANTIAGOCHILE             |  | 92.65  |  | 33.69 |  | 157,972.0   |  | 18,658.0    |   | 45,798.0  |  
| |  | Centrais Electricas Cachoeira Dourada, S.A.            |  | c |  | FC |  | (1) |  | Production and retailing of electric power                        |  | GOIANIABRAZIL             |  | 99.61  |  | 33.64 |  | 289.0       |  | 534.0       |   | 72.0      |  
| |  | Central Hidroelectrica de Betania, S.A.                |  | e |  | FC |  | (1) |  | Electric power production                                         |  | NEIVACOLOMBIA             |  | 85.62  |  | 31.13 |  | 249,662.0   |  | 1,260,407.0 |   | 131,167.0 |  
| |  | Compañia Electrica San Isidro, S.A.                    |  | a |  | FC |  | (2) |  | Complete electric power cycle                                     |  | SANTIAGOCHILE             |  | 50.00  |  | 27.27 |  | 30,761.0    |  | 19.0        |   | 13,178.0  |  
| |  | Hidroinvest, S.A.                                      |  | b |  | FC |  | (1) |  | Portfolio company                                                 |  | BUENOS AIRESARGENTINA     |  | 69.93  |  | 25.43 |  | 17.9        |  | 229.9       |   | 41.7      |  
| |  | Generandes Peru, S.A.                                  |  | d |  | FC |  | (2) |  | Portfolio company                                                 |  | LIMAPERU                  |  | 59.63  |  | 21.68 |  | 1,136.0     |  | 407.0       |   | 121.0     |  
| |  | Central Costanera, S.A.                                |  | b |  | FC |  | (1) |  | Production and retailing of electric power                        |  | BUENOS AIRESARGENTINA     |  | 64.27  |  | 23.37 |  | 171.0       |  | 627.0       |   | 36.0      |  
| |  | Gas Atacama, S.A.                                      |  | a |  | EM |  | (2) |  | Administration and management of related companies                |  | SANTIAGOCHILE             |  |       |  | 18.18 |  | 173,083.0   |  | (8,518.0    | ) | 386.0     |  
| |  | Atacama Finance Co.                                    |  | a |  | EM |  | (2) |  | Funding of Atacama project                                        |  | GEORGE TOWNCAYMAN ISLANDS |  |       |  | 18.18 |  | 3,741.0     |  | 539.0       |   | 946.0     |  
| |  | Energex Co.                                            |  | a |  | EM |  | (2) |  | Portfolio company                                                 |  | GEORGE TOWNCAYMAN ISLANDS |  |       |  | 18.18 |  | 6.0         |  | (231.0      | ) | 97.0      |  
| |  | Gasoducto Atacama Chile Ltda.                          |  | a |  | EM |  | (2) |  | Transmission of natural gas                                       |  | SANTIAGOCHILE             |  | 0.05   |  | 18.18 |  | 36,555.0    |  | 9,603.0     |   | 5,293.0   |  
| |  | Gasoducto Atacama Argentina Ltda.                      |  | a |  | EM |  | (2) |  | Transmission of natural gas                                       |  | SANTIAGOCHILE             |  | 0.05   |  | 18.18 |  | 59,411.0    |  | (6,339.0    | ) | 1,476.0   |  
| |  | Inversiones Electricas Quillota, S.A.                  |  | a |  | EM |  | (2) |  | Portfolio company                                                 |  | SANTIAGOCHILE             |  | 50.00  |  | 18.18 |  | 15,305.0    |  | 1,994.0     |   | 6,580.0   |  
| |  | Inversiones Gas Atacama Holding, Ltda.                 |  | a |  | EM |  | (2) |  | Transmission of natural gas                                       |  | SANTIAGOCHILE             |  | 50.00  |  | 18.18 |  | 177,562.0   |  | (12,138.0   | ) | (475.0    | )
| |  | Gas Atacama Generacion Ltda.                           |  | a |  | EM |  | (2) |  | Complete electric power cycle                                     |  | SANTIAGOCHILE             |  | 0.05   |  | 18.18 |  | 67,840.0    |  | (11,840.0   | ) | 3,259.0   |  
| |  | Consorcio Ingendesa-Ara Ltda.                          |  |   |  |    |  |     |  | Project engineering consulting services                           |  | SANTIAGOCHILE             |  | 50.00  |  | 17.8  |  | S/D         |  | S/D         |   | S/D       |  
| |  | Consorcio Ingendesa-Minmetal Ltda.                     |  | a |  | EM |  |    |  | Engineering services                                              |  | SANTIAGOCHILE             |  | 50.00  |  | 17.75 |  | 2,000.0     |  | 1,360.0     |   | (1,546.0  | )
| |  | Hidroelectrica El Chocon, S.A.                         |  | b |  | FC |  | (1) |  | Electric power production                                         |  | BUENOS AIRESARGENTINA     |  | 65.19  |  | 17.25 |  | 330.0       |  | 340.0       |   | 37.0      |  
| |  | Inversiones Electrogas, S.A.                           |  | a |  | EM |  | (2) |  | Portfolio company                                                 |  | SANTIAGOCHILE             |  | 42.50  |  | 15.45 |  | 10,303.7    |  | 2,637.0     |   | 5,857.0   |  
| |  | Edegel, S.A.                                           |  | d |  | FC |  | (2) |  | Production and retailing of electric power                        |  | LIMAPERU                  |  | 63.56  |  | 13.78 |  | 2,274.0     |  | 414.0       |   | 165.0     |  
| |  |                                                        |  |   |  |    |  |     |  |                                                                   |  |                            |  |        |  |       |  |             |  |             |  

9

---



|                    |                                                            | Transmisora Electrica de Quillota Ltda. (TRANSQUILLOTA) |   | a  |    | EM  |     | (2)                                  |                                                                           | Transmission and distribution of electric power    |                        | SANTIAGOCHILE  |        | 50.00  |        | 13.64  |             | 3,507.1     |             | 1,575.0     |            | 310.0    | 
|------------------- | ---------------------------------------------------------- | ------------------------------------------------------- | - | -- | -- | --- | --- | ------------------------------------ | ------------------------------------------------------------------------- | -------------------------------------------------- | ---------------------- | --------------- | ------ | ------ | ------ | ------ | ----------- | ----------- | ----------- | ----------- | ---------- | -------- | 
|                    |                                                            | Empresa de Energia de Bogota, S.A. (EEB)                |   | e  |    | NC  |     | (1)                                  |                                                                           | Portfolio company                                  |                        | BOGOTACOLOMBIA |        | 11.00  |        | 8.08   |             | 1,165,942.0 |             | 3,786,951.0 |            | 23,046.0 | 
|                    | Elesur, S.A.                                               |                                                         | a |    | FC |     | (1) |                                      | Portfolio company                                                         |                                                    | SANTIAGOCHILE         |                 | 100.00 |        | 100.00 |        | 2,459,783.0 |             | (18,397.0   | )           | (946,235.0 | )       
|                    | Endesa Internacional Energia LTD.                          |                                                         | c |    | FC |     |    |                                      | Portfolio company                                                         |                                                    | RIO DE JANEIROBRAZIL  |                 | 100.00 |        | 100.00 |        | 60.0        |             | (42.0       | )           | 0.0        |         
|                    | Inversiones Cesa, S.L.                                     |                                                         |   |    | FC |     | (1) |                                      | Portfolio company                                                         |                                                    | MADRIDSPAIN           |                 | 100.00 |        | 100.00 |        | 159.0       |             | (49.0       | )           | 4.0        |         
|                    | Compañía de Inversiones Chispa Uno, S.A.                   |                                                         | a |    | FC |     | (1) |                                      | Portfolio company                                                         |                                                    | SANTIAGOCHILE         |                 | 99.89  |        | 99.89  |        | 39,168.0    |             | (216.0      | )           | (54,850.0  | )       
|                    | Luz de Bogota, S.A.                                        |                                                         | e |    | FC |     | (1) |                                      | Portfolio company                                                         |                                                    | BOGOTACOLOMBIA        |                 | 100.00 |        | 82.08  |        | 336,781.0   |             | 1,707,111.0 |             | 54,122.0   |         
|                    | Central Geradora Termelectrica Fortaleza, S.A.             |                                                         | c |    | FC |     | (1) |                                      | Development of combined-cycle plant project                               |                                                    | CEARABRAZIL           |                 | 100.00 |        | 80.78  |        | 152.0       |             | 0.0         |             | 0.0        |         
|                    | Compañia Peruana de Electricidad, S.A. (CPE)               |                                                         | d |    | FC |     | (1) |                                      | Portfolio company                                                         |                                                    | LIMAPERU              |                 | 100.00 |        | 79.38  |        | 129.0       |             | 50.0        |             | 14.0       |         
|                    | Empresa Electrica de Cabo Blanco, S.A.                     |                                                         | d |    | FC |     | (1) |                                      | Portfolio company                                                         |                                                    | LIMAPERU              |                 | 80.00  |        | 80.00  |        | 76.0        |             | 2.0         |             | 9.0        |         
|                    | Investluz, S.A.                                            |                                                         | c |    | FC |     | (1) |                                      | Portfolio company                                                         |                                                    | SAO PAULOBRAZIL       |                 | 100.00 |        | 74.78  |        | 955.0       |             | (74.0       | )           | 48.0       |         
|                    | Luz de Panama Inc.                                         |                                                         | c |    | FC |     | (1) |                                      | Advice on financial and commercial aspects of capital goods and equipment |                                                    | PANAMÁ                 |                 | 100.00 |        | 74.78  |        | 0.0         |             | (5.0        | )           | 5.0        |         
|                    | Comercializadora de Energia del MERCOSUR, S.A. (CEMSA)     |                                                         | b |    | FC |     | (1) |                                      | Retailing of power in Mercosur                                            |                                                    | BUENOS AIRESARGENTINA |                 | 100.00 |        | 71.36  |        | 14.0        |             | 21.0        |             | 3.0        |         
|                    | Companhia de Interconexao Energetica, S.A. (CIEN)          |                                                         | c |    | FC |     | (1) |                                      | Production, transmission and distribution of electric power               |                                                    | RIO DE JANEIROBRAZIL  |                 | 99.99  |        | 71.35  |        | 285.0       |             | (56.0       | )           | 345.0      |         
|                    | Compañía de Transmision del MERCOSUR, S.A. (CTM)           |                                                         | b |    | FC |     | (1) |                                      | Production, transmission and distribution of electric power               |                                                    | BUENOS AIRESARGENTINA |                 | 100.00 |        | 71.35  |        | 14.0        |             | 16.0        |             | (2.0       | )       
|                    | Generalima, S.A.                                           |                                                         | d |    | FC |     | (1) |                                      | Portfolio company                                                         |                                                    | LIMAPERU              |                 | 72.50  |        | 72.50  |        | 163.0       |             | (57.0       | )           | 1.0        |         
|                    | Sociedad Inversora Dock Sud, S.A. (DOCK SUD)               |                                                         | b |    | FC |     | (1) |                                      | Portfolio company                                                         |                                                    | BUENOS AIRESARGENTINA |                 | 57.14  |        | 57.14  |        | 431.0       |             | (196.0      | )           | 28.0       |         
|                    | Empresa Electrica de Piura, S.A.                           |                                                         | d |    | FC |     | (1) |                                      | Electric power production                                                 |                                                    | LIMAPERU              |                 | 60.00  |        | 48.00  |        | 125.5       |             | 5.0         |             | 15.0       |         
|                    | Empresa de Generac. Termoelec. Ventanilla, S.A. (ETEVENSA) |                                                         | d |    | FC |     | (1) |                                      | Electric power production                                                 |                                                    | LIMAPERU              |                 | 60.00  |        | 43.50  |        | 270.0       |             | (10.0       | )           | (2.0       | )       
|                    | Consorcio Energetico Punta Cana-Macao, S.A. (CEPM)         |                                                         | f |    | EM |     | (4) |                                      | Production, transmission and distribution of electric power               |                                                    | DOMINICAN REPUBLIC     |                 | 40.00  |        | 40.00  |        | 11.0        |             | 32.0        |             | 6.0        |         
|                    | Central Dock Sud, S.A.                                     |                                                         | b |    | FC |     | (1) |                                      | Production, transmission and distribution of electric power               |                                                    | BUENOS AIRESARGENTINA |                 | 69.76  |        | 39.86  |        | 502.0       |             | (264.0      | )           | 39.0       |         
|                    | Yacylec, S.A.                                              |                                                         | b |    | EM |     | (1) |                                      | Transmission of electric power                                            |                                                    | BUENOS AIRESARGENTINA |                 | 22.22  |        | 22.22  |        | 106.0       |             | 9.0         |             | 11.0       |         
|                    | Empresa Propietaria de la Red, S.A.                        |                                                         | a |    | NC |     |    |                                      | Construction of an interconnection line in Central America                |                                                    | PANAMA                 |                 | 14.29  |        | 14.29  |        | S/D         |             | S/D         |             | S/D        |         
|EUROPE              |                                                           
|Endesa Europa, S.L. |                                                            |                                                         |   | FC |    | (1) |     | Endesa business activities in Europe |                                                                           | MADRID                                             |                        | 100.00          |        | 100.00 |        | 367.0  |             | 1,077.0     |             | 52.0        |           
|                    | Endesa Trading, S.A.                                       |                                                         |   |    | FC |     | (1) |                                      | Trading in Europe                                                         |                                                    | MADRID                 |                 | 100.00 |        | 100.00 |        | 0.8         |             | 1.6         |             | 0.2        |         
|                    |                                                            | Endesa Power Trading Ltd.                               |   |    |    | FC  |     | (1)                                  |                                                                           | Trading in Europe                                  |                        | LONDON-ENGLAND  |        | 100.00 |        | 100.00 |             | 0.0         |             | (1.1        | )          | 0.4      | 
|                    | Endesa Italia S.R.L.                                       |                                                         |   |    | FC |     | (1) |                                      | Electric power production                                                 |                                                    | ROME-ITALY             |                 | 51.00  |        | 51.00  |        | 700.8       |             | 1,777.9     |             | 67.6       |         
|                    |                                                            | Endesa Italia Power & Fuel, S.R.L.                      |   |    |    | FC  |     | (1)                                  |                                                                           | Retailing of electricity and other energy products |                        | ROME-ITALY      |        | 100.00 |        | 51.00  |             | 0.1         |             | 0.0         |            | 0.5      | 
|                    | Ergon Energia, S.R.L.                                      |                                                         |   |    | NC |     |    |                                      | Retailing of electricity                                                  |                                                    | BRESCIAITALIA         |                 | 50.00  |        | 50.00  |        | 0.6         |             | 0.0         |             | 0.0        |         
|                    | Pego Energia Electrica, S.A. (PEGOP)                       |                                                         |   |    | EM |     | (3) |                                      | Operation of fossil-fuel plants and production of electric power          |                                                    | ABRANTESPORTUGAL      |                 | 44.98  |        | 44.98  |        | 0.1         |             | 0.0         |             | 4.1        |         
|                    | Tejo Energia, S.A.                                         |                                                         |   |    | EM |     | (2) |                                      | Production, transmission and distribution of electric power               |                                                    | ABRANTESPORTUGAL      |                 | 35.00  |        | 35.00  |        | 49.9        |             | 78.8        |             | 43.5       |         
|                    | Carbopego, S.A.                                            |                                                         |   |    | EM |     | (3) |                                      | Purchase, sale, transmission and storage of fuel                          |                                                    | ABRANTESPORTUGAL      |                 | 33.32  |        | 33.32  |        | 0.1         |             | 5.8         |             | 0.7        |         
|                    |                                                            |                                                         |   |    |    |     |     |                                      |                                                                           |                                                    |                        |                 |        |        |        |        |             |             |             |             |           

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| | Energie Electrique de Tahaddart, S.A.                       |  | f |  | NC |  | (1)  |  | Construction and operation of a combined cycle power plant |  | TANGIERMOROCCO       |  | 32.00 |  | 32.00 |  | 745.0 |  | 0.0   |   | 0.0   |  
| | ----------------------------------------------------------- |  | - |  | -- |  | ---- |  | ---------------------------------------------------------- |  | --------------------- |  | ----- |  | ----- |  | ----- |  | ----- | - | ----- | -
| | Societe Nationale d'Electricitè et de Thermiqe, S.A. (SNET) |  |   |  | EM |  | (4)  |  | Electric power production                                  |  | PARIS-FRANCE          |  | 30.00 |  | 30.00 |  | 569.2 |  | 7.5   |   | 13.6  |  
| | Soprolif, S.A.                                              |  |   |  | EM |  | (1)  |  | Construction of a fluidized bed boiler in Gardanne         |  | FRANCE                |  | 25.00 |  | 28.00 |  | 15.2  |  | (12.4 | ) | 1.4   |  
| | Lyonnaise Des Eaux Casablanca (LYDEC)                       |  | g |  | NC |  | (17) |  | Water supply                                               |  | CASABLANCAMORROCCO   |  | 18.00 |  | 18.00 |  | 800.0 |  | 16.4  |   | 219.7 |  
| | Towarowa Gielda Energii, S.A.                               |  | h |  | NC |  | (1)  |  | Organized electricity market                               |  | POLAND                |  | 10.00 |  | 10.00 |  | 14.5  |  | (4.2  | ) | (0.3  | )
| | Powernext, S.A.                                             |  |   |  | NC |  |     |  | Organized electricity market                               |  | PARIS-FRANCE          |  | 5.00  |  | 5.00  |  | 10.0  |  | (2.4  | ) | (0.3  | )
| | Endex N.V.                                                  |  |   |  | NC |  |     |  | Organized electricity market                               |  | AMSTERDAM-NETHERLANDS |  | 2.54  |  | 2.54  |  | 0.5   |  | 9.6   |   | (1.2  | )

In the case of companies heading groups, the figures relating to capital, reserves and income/loss are consolidated figures.

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