Document:

<PAGE>

                                                                    Exhibit 10.3

SERVICES AGREEMENT

In Seville, on January 1, 2004.

APPEARING

On the one hand Mr. Miguel Angel Jimenez de Velasco-Mazarlo, of legal age,
inhabitant of Seville, with domicile for these purposes in Avda. De la Buhaira,
2, and with National Identity Document no. 28874696 J and Mr. Jose Marcos
Romero, of legal age, inhabitant of Seville, with domicile for these purposes in
Avda. De la Buhaira, 2, and with National Identity Document no. 27883847, for
and on behalf of the Company ABENGOA, S.A. (hereinafter "Abengoa" or "supplier
of services"), with registered office and tax domicile in Seville, Avda. De la
Buhaira, 2, recorded in the Mercantile Register of this city, sheet 2921, folio
107, Companies volume 47 and with Corporate Tax Identification no. A-41-002288.

And on the other hand Mr. [ ], of legal age, with National Identity Document no.
[ ], acting for and on behalf of [ ] (hereinafter "Telvent" or "receiver of
services"), with registered office and tax domicile in [ ] ([ ]) in [ ],
recorded in [ ] and with Corporate Tax Identification no [ ].

Hereinafter, Abengoa and Telvent shall jointly be termed the "Parties".

Acknowledging that each other has the necessary legal capacity to enter into
contract and be bound thereby on behalf of the Companies that they represent,
acting as stated above:

RECITALS

I.       Telvent has as its principal activity [ ] and requires for carrying out
         said activity the professional services (hereinafter the "Services")
         described in clause 1 of this Agreement.

II.      "Abengoa" has at its disposal the means, structure, institutional
         connections and resources to aid in the realization of the
         aforementioned Services.

III.     Thus, Telvent is interested in contracting the services provided by
         Abengoa and Abengoa is interested in providing said services.

IV.      Therefore, it being in the interest of both parties to regulate their
         mutual relations, both parties formalize the present services agreement
         (hereinafter "the Agreement") with Abengoa subject to the following

CLAUSES

<PAGE>

One. - Purpose

The purpose of this Agreement consists of the rendering of consulting,
cooperation and technical support services by Abengoa to Telvent in the
activities carried out by the latter, which have been generically described in
Recital I above, in order to improve and expand its business capacity both in
Spain and abroad in accordance with the terms and conditions of this Agreement.

In particular, and merely by way of example, Abengoa's services include:

1.1      Generic Services:

- Finance management: Global negotiation of Telvent's funding lines: long and
short term credit loans, factoring, deferred payment, underwriting and other
financial instruments. Assistance in the processes of analysis and contracting
of project finance. If necessary, all these lines are backed by the guarantee of
the parent company.

- Centralized asset management: Possibility of placing surplus cash, at market
values.

- Legal advice, legal assistance for the governing body and shareholders'
meeting of Telvent, international legal support in countries in which the
presence of Telvent is not extant.

- Institutional support with international multilateral financing organizations
(IDB, World Bank etc.)

- Institutional commercial assistance through services rendered to Telvent in
the commercial offices of Abengoa in those countries in which Telvent is not
represented.

- Support in providing official global ratings.

- Tax advisory services: Assistance in special situations (inspections) and
coordination of contacts with third parties. Elaboration of the consolidated
corporation tax for the tax group. Elaboration of tax consultancy in complex
processes (acquisitions).

- Negotiation and optimization of global corporate insurance policies covering
Telvent's risks.

- Providing of guarantees and endorsements in favor of Telvent.

- Services including internal publicity, corporate image and institutional
relations.

- Human resource services: Analyses and reports on comparative wages.

1.2. Specific support services upon request

Comprising those not expressly included in the previous section, for which
Telvent shall commission Abengoa explicitly and punctually those specific
services which Abengoa shall provide within the scope of global assistance to
which this Agreement binds both Parties.

<PAGE>

Two. - Price

2.1. Abengoa shall receive as compensation for the services indicated in clause
1.1., applicable for the year 2004, the sum of [ ] Euros ([ ] Euros), in
relation to which the corresponding VAT shall be calculated in accordance with
the applicable regulations in force at the given time, and which shall be billed
each quarter in advance in four equal parts within the first fifteen days of the
relevant quarter.

For collection of the agreed price and associated expenses, Abengoa will present
Telvent with bills, which shall be paid by the latter to Abengoa within the
calendar quarter.

For services rendered upon request as indicated in clause 1.2, the parties shall
agree to, in each case at market values, the consideration to be paid by Telvent
to Abengoa for each specific service requested and rendered during the term of
this Agreement.

2.2. Ordinary expenses for travel, business stays and maintenance shall be paid
by Telvent to Abengoa upon the presentation of the corresponding receipts up to
the maximum agreed upon for each case.

2.3. Special expenses must be previously approved by Telvent as a condition for
reimbursement to Abengoa.

2.4. Determination of the consideration fixed in point 2.1 above has been
established in accordance with the current volume and expected growth of
Telvent's activity for the present tax/business year, accepted by the Parties as
the most adequate reference amount given that the services have been requested
of the supplier of services by the receiver of services based on said activity.
Notwithstanding, should the receiver of services request additional and/or
special services, the Parties may agree to compensation for each specific case.

2.5. The prices agreed upon in clause 2.1 above will be revisable annually from
the 1st of January of 2005 in accordance with the variations of the Consumer
Price Index (IPC) published by the National Institute of Statistics or any body
replacing it, or by means of updating criteria freely determined by the Parties
for each annual period and which in each case will be included as a Schedule to
this Agreement, forming an integral part of the same.

Three.- Duration.

This Agreement shall enter into force on January 1, 2004, and shall have an
initial duration of one year. However, it shall be extended for periods of one
year provided neither of the Parties communicates to the other with a minimum
prior notice of 30 days its intention to terminate it, and if such communication
is made Telvent shall pay any amounts pending payment, without any
indemnification becoming due between the Parties.

<PAGE>

This Agreement represents the entire agreement between the Parties and cancels
all prior agreements, arrangements and communications between the Parties,
whether verbal or in writing, in relation to the purpose of this Agreement.

Thus do the Parties in these proceedings rescind, terminate and render null and
void the previous services agreement that they had entered into, at the same
time declaring that they have no claim in relation thereto.

Four.- Rendering of the Service

4.1. For the performance of the functions entrusted to it, Abengoa shall
facilitate to Telvent any documentation necessary and the presence, as deemed
appropriate, of its own technicians and specialists, whenever this is deemed
appropriate.

For its part, Abengoa shall employ all material and human resources necessary
for such ends.

4.2. The Parties shall on a regular basis hold meetings in which Abengoa shall
inform on the management, planning, monitoring and control, together with the
work carried out in the period leading up to this. Such meetings shall take
place either in the registered office of Telvent or of Abengoa, on a monthly,
quarterly or other basis as is convenient, by agreement of the Parties.

4.3. Abengoa shall inform Telvent on a timely basis of the progress and results
of the services entrusted to it.

Five. Confidentiality

5.1. The Parties undertake to respect the confidential nature of the information
received from the other Party, not being entitled to reveal the commercial
knowledge and/or secrets thereof, even after the Agreement has ended, and shall
be liable for any breaches of such obligation whether directly or by the
employees thereof.

5.2. At the end of the Agreement, for any reason, Abengoa shall deliver any
documentation and information (technical or commercial) that it has received
from Telvent.

5.3. This Agreement is based on the principle of loyalty, and therefore the
Parties may deem it to be terminated if, in their opinion, the other Party
breaches such commitments.

Six. Ownership of Documentation

All documentation generated whilst this Agreement remains in force or as a
consequence thereof and that is related to the purpose thereof shall be the
property of Telvent, and therefore use thereof for any purposes by Abengoa must
be authorized in advance by Telvent.

<PAGE>

Seven. Assignment

The Parties may not subrogate any third party to the rights and obligations of
this Agreement unless written agreement is obtained in advance.

Eight. Termination of the Agreement

In addition to the events in this Agreement, the following shall be grounds for
termination of the Agreement:

          a)   Breach by either of the Parties of any of its clauses.

          b)   Insolvency, bankruptcy, creditors' arrangements, suspension of
               payments or court-ordered or amicable liquidation of either of
               the Parties.

          c)   By mutual agreement, with the effects thereby established.

Without prejudice to the above, Telvent may at any time, and with sixty (60)
days' advance notice, reduce or eliminate any of the services mentioned above
expressly in clause 1.1.

Nine. Jurisdiction

This Agreement shall be governed by Spanish law, and any differences arising
between the Parties with respect to the interpretation, performance, execution
or termination thereof in whole or in part shall be resolved by means of
arbitration at law subject to Law 60/2003, of December 23, 2003, and
supplementary provisions, which shall be held in Seville (Spain). Each Party
shall assign an arbitrator, and the third shall be designated by the arbitrators
thus appointed, and shall act as Chairman of such Arbitration. The arbitration
award shall be binding on the Parties and shall be issued within two months
following establishing of the arbitration. If the Parties are not able to agree
the appointment of the arbitrators, they shall submit to the jurisdiction of the
courts of Seville for the judicial establishment of the arbitration.

And in witness whereof of all the foregoing, the Parties sign this Agreement in
two counterparts and making one sole agreement, in the place and on the date
first mentioned above.

For                                                        For
Abengoa, S.A.                                              Telvent

Signed: Mr. Miguel Angel Jimenez de Velasco-Mazario        Signed: Mr. [ ]

Signed: Mr. Jose Marcos Romero
<PAGE>
                                                                      Appendix 1

The following chart illustrates the material terms of the services agreements
that have been entered into:

<TABLE>
<CAPTION>
               RECIPIENT OF SERVICES                            AMOUNT (EUROS)
               ---------------------                            --------------
<S>                                                             <C>
       Telvent Trafico y Transporte, S.A.                       E 981,967 + VAT
       Telvent Portugal, S.A.                                   E  23,006 + VAT
       Telvent Brasil, S.A.                                     E 171,283 + VAT
       Telvent Canada Ltd                                       E 385,575 + VAT
       Telvent Mexico, S.A. de C.V.                             E 128,622 + VAT
       Telvent Outsourcing, S.A.                                E   9,562 + VAT
       Telvent USA Inc                                          E 125,466 + VAT
       Sainsel Sistemas NAvales, S.A.                           E 140,040 + VAT
       Telvent Housing, S.A.                                    E 157,094 + VAT
       Telvent Interactiva, S.A.                                E  90,327 + VAT
       Telvent Energia y Medio Ambiente, S.A.                   E 655,342 + VAT
</TABLE><PAGE>

                                                                    Exhibit 10.4

                                                                       4NO659855

7/2002

                                                                        01022464

                                                            [STAMPED: NOTARY'S
                                                            OFFICE OF MR. MANUEL
                                                            AGUILAR GARCIA]

NUMBER TWO THOUSAND FOUR HUNDRED AND SIXTY-FOUR

In Seville, on December thirtieth, two thousand and two

Before me, MANUEL AGUILAR GARCIA, Notary Public of the Seville Notaries'
Association, resident of Seville.

APPEARING

ON THE ONE HAND:

MR. JOSE MARCOS ROMERO, of legal age, married, economist, resident of Seville,
with registered office for these purposes in Avenida de la Buhaira, 2 and with
National Identity Document no. 27883847 - G.

ACTING: in representation of "INVERSION CORPORATIVA, I.C.S.A.", with registered
office in Madrid, calle General Martinez Campos 53, with Corporate Tax
Identification Number A-41/105511.

Incorporated for an indefinite period of time, with the name "Servicios de
Prensa e Imprenta, S.A." by public deed granted in Seville on February
seventeenth, nineteen eighty-one, before the Notary Public lately of Seville Mr.
Alfonso Cruz Aunon, on February seventeenth, nineteen eighty-one.

RECORDED in the Mercantile Register of the Province of Madrid in Volume 155
General ,145 of Section Three of the Book of Companies, folio 53, sheet no.
61831-1.

IT ADAPTED its Bylaws to current legislation by means of public deed granted in
Madrid on July 21, 1990, before the Notary Public of Madrid, Mr. Felix Pastor
Ridruejo, recorded in the above-mentioned Mercantile Register and volume 400,
folio 143, sheet no. M-7821, twenty-first entry.

IT CHANGED its registered trade name to the present registered trade name shown
above by resolution of the Extraordinary Shareholders' Meeting of the Company on
December twenty-seventh, nineteen ninety-one. The Certificate of the
aforementioned resolution was notarized by deed granted in Madrid on January
twenty-ninth, nineteen ninety-two, before the Notary Public of Madrid, Mr. Felix
Pastor Ridruejo.

<PAGE>

                                                                       4NO659854

7/2002

                                                            [STAMPED: NOTARY'S
                                                            OFFICE OF MR. MANUEL
                                                            AGUILAR GARCIA]

RECORDED in the aforementioned Mercantile Register in volume 457, folio 171,
sheet no. M-7821, 26th entry.

Authorization for these proceedings is given by power of attorney granted by
deed formalized before me on December 26, 2002, protocol number 2439.

I have in front of me the aforementioned deed, the legal standing of which for
these proceedings is sufficiently accredited, the representative having in my
judgment the necessary authorization on an individual basis and without
restriction to grant the present sale-purchase deed contained in the present
deed, the person appearing declaring that the aforementioned powers of attorney
have not been waived or restricted and that the legal personality of the
business represented remains in force.

AND ON THE OTHER HAND:

MR. MANUEL SANCHEZ ORTEGA, of legal age, inhabitant of Alcobendas, (Madrid),
with domicile in calle Valgrande numero 6, and with National Identity Document
No. 2601273-L.

APPEARING: for and on behalf of the Spanish Corporation "TELVENT SISTEMAS Y
REDES, S.A.", and as such in representation of said company, with registered
office in Alcobendas (Madrid), in calle Valgrande numero 6, with Corporate Tax
Identification No. A- 82631623.

IT was formed with the Name "Telvent Desarrollos, S.A.", for an indefinite
period of time by virtue of the deed authorized by the Notary Public of Madrid
Mr. Carlos Perez Baudin, on April 4, 2000, with protocol no. 1199.

It changed its registered trade name for the registered trade name recorded
above by virtue of deed granted by the aforementioned Notary Public Mr. Carlos
Perez Baudin on February 12, 2001, with protocol number 516.

Recorded in the Madrid Mercantile Register in volume 15370, folio 164, section
eight, sheet M-257879, first entry.

He is specially authorized for these proceedings by resolution of the Board of
Directors dated November 28, 2002, pursuant to the certificate issued by Mr.
Miguel Angel

<PAGE>
                                                                       4NO659853

7/2002

                                                            [STAMPED: NOTARY'S
                                                            OFFICE OF MR. MANUEL
                                                            AGUILAR GARCIA]

Jimenez Velasco Mazario, as Secretary of the Board of Directors, with the
Approval of the Chairman Mr. Pedro Bernad Herrando, the signatures of whom I
recognize and to which I attest.

I attach the aforementioned certificate to this document.

ATTESTATION: They are known to me. In my judgment they have full legal standing
and capacity to grant this SALE-PURCHASE deed and,

                                    RECITALS

I. Inversion Corporativa I.C., S.A. is the legal and beneficial owner of eleven
million, four hundred and seventy-one thousand eight hundred and eleven
(11,471,811) registered shares, numbered 193788378 to 200060102 and 272862879 to
278062964 all inclusive, with a par value of one euro (1 euro), all fully paid,
in the Company "Xfera Moviles, S.A." with Corporate Tax Identification no.
A-18252548, recorded in the Madrid Mercantile Register in Volume 14805, Book 0,
8th section, folio 140, sheet 246116.

The aforementioned ownership is accredited by virtue of a deed of sale-purchase,
dated December 5, 2002, granted in the presence of the Notary Public of Madrid
Mr. Andres de la Fuente O'Connor (the Shares).

II. There is no legal impediment nor clause in the bylaws that has not been
complied with that would prevent or restrict the free transfer of the indicated
securities.

III. The transfer to be made does not fall within the circumstances of numbers
one and two of article 8 of Law 24/1988, on July 28, of the Stock Exchange.

IV. The Shares are encumbered by means of a pledge, described in the purchase
deed in favor of the seller party, which the purchasing party is aware of and
accepts.

V. By virtue of the provisions of the Purchase/Call Option Contract between
Inversion Corporativa I.C., S.A. and Abengoa, S.A. of October 13, 2000, and
pursuant to clause seven thereof (Option Transferability) the parties have
agreed to the present sale-

<PAGE>

                                                                       4NO659852

7/2002

                                                            [STAMPED: NOTARY'S
                                                            OFFICE OF MR. MANUEL
                                                            AGUILAR GARCIA]

purchase of the shares indicated, and proceed to the granting thereof subject to
the following

CLAUSES

ONE.- Mr. Jose Marcos Romero, on behalf of Inversion Corporativa I.C., S.A.,
sells to Mr. Manuel Sanchez Ortega, on behalf of Telvent Sistemas y Redes, S.A.,
which purchases, in its current state of liens and charges, the Shares owned by
it indicated in Recital I above, and which are here deemed repeated.

TWO.- the price of this sale-purchase, for the entirety of the shares indicated
in Recital I, is established at TWENTY-FIVE MILLION (25,000,000) euros.

Payment of said amount will be made by the Purchaser no later than March 31, two
thousand and three.

THREE.- The Parties have agreed in a separate document that the purchasing party
shall assume the obligations derived from the provision and maintenance of
certain bank guarantee policies (contra-avales bancarios) given as security for
the adjudication of the concession for exploitation of a UMTS mobile telephone
license in the name of Xfera Moviles, S.A.

FOUR.- It is considered that the present sale-purchase has been authorized in
advance pursuant to the provisions of the Company Bylaws and/or Shareholders'
Agreements of the company concerned; nonetheless, the Parties shall cooperate in
whatever other communications, notifications and formalities may be necessary or
appropriate for the recording of the Shares in the Share Register of Xfera
Moviles, S.A. in the Purchaser's name, notification of the pledge creditors, and
any other necessary formalities.

FIVE.- EXPENSES: all expenses and costs derived from the formalizing,
performance, execution or termination of the present sale-purchase, whether
court-related or otherwise, shall be paid for by the purchasing party.

<PAGE>

                                                                       4NO659851

7/2002

                                                            [STAMPED: NOTARY'S
                                                            OFFICE OF MR. MANUEL
                                                            AGUILAR GARCIA]

SIX. The Parties, expressly waiving any other forum that may correspond to them,
submit to the courts and tribunals of Madrid.

GRANT AND AUTHORIZATION.

The legal warnings and reservations and, particularly, those of a tax nature,
are given.

I read to those appearing, as they so choose, the full contents of this deed,
after which I inform them of their right to read it for themselves.

The contents being ratified, they give their consent and sign with me, the
Notary Public.

I attest to the identification of those appearing by means of their identity
documents shown to me. Likewise I attest in general and in respect of the entire
contents of this instrument which I draw up in five sheets, this current page
and the four consecutive prior pages of the same series. I, the Notary Public
ATTEST.

The signatures of those appearing follow.

Signed: /s/ MANUEL AGUILAR GARCIA. Initialed and sealed.

-- DOCUMENT ATTACHED. --

<PAGE>

                                                                       4NO659850

7/2002

                                                            [STAMPED: NOTARY'S
                                                            OFFICE OF MR. MANUEL
                                                            AGUILAR GARCIA]

TELVENT SYSTEMAS Y REDES

Certificate of the Board of Directors

I, Miguel Angel Jimenez-Velasco Mazario, Secretary of the Board of Directors of
the company "Telvent Sistemas y Redes, S.A.", with registered office and office
for tax purposes in Alcobendas (Madrid) calle Valgrande, 6, recorded in the
Madrid Mercantile Register, in Volume 15370, folio 164, section eight, sheet
M-257879, with Corporate Tax Identification no. A-82631623.

Certify:

That at the meeting of the Board of Directors held on November 28, 2002, twelve
of the fifteen Directors making up the Board of Directors, namely Mr. Jose Luis
Aya Abaurre, Mr. Pedro Bernad Herrando, Mr. Jose A. Moreno Delgado, Mr. Jorge
Guarner Munoz, Mr. Javier Salas Collantes, Mr. Manuel Sanchez Ortega, Mr. Pedro
Soares Franco de Avillez, Mr. Jose B. Terceiro Lomba, Mr. Raoul Bussmann, Mr.
Candido Velazquez-Gaztelu Ruiz, Mr. Alfonzo Gonzalez Dominguez, and Mr. Eduardo
Punset Casals unanimously adopted, among others, the following resolutions, as
shown from the Minutes of the meeting approved unanimously at the end of the
session and signed by the Secretary with the approval of the Chairman.

One.-

"To grant special power of attorney, with as wide a scope in Law as necessary,
to the Director Mr. Manuel Sanchez Ortega, of legal age, married, with Spanish
nationality, with domicile for these purposes in Alcobendas (Madrid) C/Valgrande
6, and with National Identity Document no. 2601273-L; the Deputy Secretary of
the Board Ms. Ana Maria Plaza Arregui, of legal age, with domicile for these
purposes in Alcobendas (Madrid) C/Valgrande 6, unmarried, of Spanish
nationality, with National Identity Document number 12374150-N; and the
Secretary of the Board of Directors, Mr. Miguel Angel Jimenez-Velasco Mazario,
of legal age, married, of Spanish nationality, with domicile in Seville, C/Amor
de Dios, 1o, with National Identity Document no. 28874696-J, so that any of
them, for and on behalf of this company, may exercise severally and with no
distinction between them, and with the power of self-contracting and double
representation, each and every one of the actions necessary in order to acquire
up to 11,471,811 registered shares of Xfera Moviles, S.A. numbered 193788378 to
200060102 and 272862879 to 278062964 of one euro par value each, with the price
and conditions that they are free to determine, signing for this reason all
documents, public and private, that they deem appropriate."

<PAGE>

TELVENT SYSTEMAS Y REDES

Two. "Lastly, authorization is given to Mr. Pedro Bernad Herrando, Mr. Manuel
Sanchez Ortega, to Mr. Miguel Angel, Jimenez-Velasco Mazario and to Ms. Ana
Maria Plaza Arregui so that any of them, with no distinction between them, and
as special delegates of this Board, may appear before a Notary Public, grant the
necessary public deeds, and proceed, as the case may be, to full or partial
recording in the Mercantile Register of the resolutions adopted that are
required by law, formalizing whatever documents may be necessary in performance
of the aforementioned resolutions."

What is stated above tallies with the Book of Minutes sent to me, and in witness
whereof and with the relevant legal effects I issue this certificate in Madrid
with the Approval of the Chairman of the Board of Directors in Alcobendas on
December 16, 2002.

Approved by the Chairman           The Secretary

/s/ Mr. Pedro Bernad Herrando      /s/ Mr. Miguel Angel, Jimenez-Velasco Mazario

I: MANUEL AGUILAR GARCIA, Notary Public of the Seville Notaries' Association,
resident of Seville.

ATTEST. That I attest to the signatures and initials of Mr. Pedro Bernad
Herrando and Mr. Miguel Angel Jimenez-Velasco Mazario with National Identity
Documents nos. 17228150-T and 28874696-J, Chairman and Secretary of the Board of
Directors of the company TELVENT SISTEMAS Y REDES, who appear at the bottom of
the second sheet of this Certificate. Seville, December twenty-seventh, two
thousand and two.

[STAMPED: EUROPEAN NOTARIES; GENERAL
COUNCIL OF SPANISH NOTARIES  0037380782
NOTARY'S OFFICE OF MR. MANUEL
AGUILAR GARCIA]

A14167729

<PAGE>

                                                                       4NO659849

7/2002

This is a copy of the parent document hereof, number cited.

And at the request of the purchasing party I bind it in seven folios, the
present sheet and the eight subsequent sheets in consecutive descending order
and of the same series, leaving a note in the original thereof.

In SEVILLE, on February fifth, two thousand and three. I attest.

[STAMPED: PUBLIC ATTESTATION:
EUROPEAN NOTARIES; GENERAL
COUNCIL OF SPANISH NOTARIES
0037381215]

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