ELE Endesa SA Ads

On the proposal of CEO, Rafael Miranda, and following a report from the Appointments and Remuneration Committee, the Board of Directors of Endesa appointed Carlos Torres Vila as Company Senior Vice President - Finance and Control (CFO), effective July 1, 2007. Carlos Torres will combine this position with his current functions as Corporate Director of Strategy. Carlos Torres is an electrical engineer. He holds a degree in business studies from the Massachusetts Institute of Technology MIT (USA), an MBA from the Sloan School of Management of the same university, and a law degree from the National Distance Learning University. In 1990, he joined strategic consultancy McKinsey & Company, becoming a partner in 1997, particularly focusing on developing corporate and business strategies in European electricity and gas sectors. He joined Endesa in 2002 as Corporate Director of Strategy. Carlos Torres will replace Jos� Luis Palomo �lvarez as Endesa Senior Vice President - Finance and Control (CFO), who has decided to take advantage of the Company's retirement scheme effective July 1, 2007. Jos� Luis Palomo has been head of economic / financial department (CFO) since 1991. The Board of Directors of the Company expresses its most sincere appreciation for his brilliant and highly productive management over the period.