Divestiture program

2002-2006 (Euro million)
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                     1st half e  2nd half     2004-2006       TOTAL

2002      2002-2003
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Viesgo, water cos.,

 Arch Coal             1,824                                    1,824

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ENDESA assets                  1,500-2,000                1,500-2,000

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Enersis assets                   900-1,000                  900-1,000

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Telecommunications

 assets                                      1,500-2,000  1,500-2,000

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TOTAL DIVESTITURES     1,824   2,400-3,000   1,500-2,000  5,724-6,824

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