On 23rd April 2007, Iberdrola completed the friendly transaction with ScottishPower. ScottishPower now forms a key part of the Iberdrola Group, one of the largest utilities in the world. Iberdrola places great importance on its relationship with all shareholders and is committed to transparent and continuous communication with shareholders and financial markets.

As a result of the transaction between Iberdrola and ScottishPower, all of the ordinary share capital of ScottishPower was acquired by Iberdrola. Further information on the transaction is available in the ScottishPower Shares section. More information on the Iberdrola Group is available on the Iberdrola website www.iberdrola.com.