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Today ENDESA (NYSE:ELE) received the funds from the securitisation of its 2005 tariff deficit collection rights, which were acquired by BNP Paribas y Banesto. The portion of the 2005 tariff deficit corresponding to ENDESA amounted to 1,683 billion, 44.16% of the total. The transfer contract was signed on 20 November 2006 at ENDESA�s headquarters, thus completing a process initiated on 20 October 2006, on which date the Company awarded a consortium made up of BNP Paribas and Banesto exclusivity to negotiate the aforementioned receivables securitisation. The mechanism for reimbursing the cash owed to the electric utilities for their regulated activities in 2005 was set in June of this year in Royal Decree 809/2006. This piece of legislation provides for the recovery of the 2005 tariff deficit - which amounts to Euro 3.810 billion for the entire sector - by means of its inclusion in the regulated electricity tariff, divided on a straight-line basis over the next 14.5 years. At 30 September 2006, ENDESA had regulatory accounts receivable balances amounting to Euro 1,281 billion in connection with the non-mainland deficit generated between 2001 and 2006 and Euro 1,194 billion in connection with the regulated revenue shortfall incurred between 1 January 2006 and 30 September 2006. Whenever these amounts are recognised by the authorities, or, as appropriate, the mechanism for their recovery by the electric utilities is set, ENDESA plans to monetise these line items by securitising them or transferring the collection rights as was done with the 2000-2002 deficit, again in 2003, and as has just been done with the 2005 deficit. This milestone has an immediate effect on ENDESA�s outstanding financial debt, thanks to the monetisation this quarter of a collection right which, otherwise, would have been collected over a 14.5 year period. * This document may contain certain forward-looking statements regarding anticipated financial and operating results and statistics that are subject to risks and uncertainties as well as to material risks, changes and other factors which may be difficult to predict, including, without limitation, those factors described in the Documento de Registro de Acciones of Endesa filed within the Comisi�n Nacional del Mercado de Valores and in the Form 20-F of Endesa filed within the Securities and Exchange Commission, both for the fiscal year ended December 31, 2005. For all of these forward-looking statements, we claim the protection of the safe harbour for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Today ENDESA (NYSE:ELE) received the funds from the securitisation of its 2005 tariff deficit collection rights, which were acquired by BNP Paribas y Banesto. The portion of the 2005 tariff deficit corresponding to ENDESA amounted to 1,683 billion, 44.16% of the total. The transfer contract was signed on 20 November 2006 at ENDESA's headquarters, thus completing a process initiated on 20 October 2006, on which date the Company awarded a consortium made up of BNP Paribas and Banesto exclusivity to negotiate the aforementioned receivables securitisation. The mechanism for reimbursing the cash owed to the electric utilities for their regulated activities in 2005 was set in June of this year in Royal Decree 809/2006. This piece of legislation provides for the recovery of the 2005 tariff deficit - which amounts to Euro 3.810 billion for the entire sector - by means of its inclusion in the regulated electricity tariff, divided on a straight-line basis over the next 14.5 years. At 30 September 2006, ENDESA had regulatory accounts receivable balances amounting to Euro 1,281 billion in connection with the non-mainland deficit generated between 2001 and 2006 and Euro 1,194 billion in connection with the regulated revenue shortfall incurred between 1 January 2006 and 30 September 2006. Whenever these amounts are recognised by the authorities, or, as appropriate, the mechanism for their recovery by the electric utilities is set, ENDESA plans to monetise these line items by securitising them or transferring the collection rights as was done with the 2000-2002 deficit, again in 2003, and as has just been done with the 2005 deficit. This milestone has an immediate effect on ENDESA's outstanding financial debt, thanks to the monetisation this quarter of a collection right which, otherwise, would have been collected over a 14.5 year period. * This document may contain certain forward-looking statements regarding anticipated financial and operating results and statistics that are subject to risks and uncertainties as well as to material risks, changes and other factors which may be difficult to predict, including, without limitation, those factors described in the Documento de Registro de Acciones of Endesa filed within the Comision Nacional del Mercado de Valores and in the Form 20-F of Endesa filed within the Securities and Exchange Commission, both for the fiscal year ended December 31, 2005. For all of these forward-looking statements, we claim the protection of the safe harbour for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.