The Audit Committee is mainly comprised of non-executive members. The following table details its current membership and the date of appointment of each component member:

tabla members

(*) On behalf of Aplicaciones Digitales, S.L.

On February 23, 2009, and in accordance with Art. 1 of the Internal Regulations of the Audit Committee, Mr Carlos Sebastián Gascón was appointed committee chairman, taking over from Mr Daniel Villalba following the end of his maximum term of office pursuant to applicable law.

Carlos Sebastián Gascón

A Professor of Introduction to Economic Analysis at Madrid’s Universidad Complutense since 1984, Mr Gascón studied at the universities of Madrid, Essex (UK) and the London School of Economics. Outside his academic life, he has served as Director General for Planning attached to the Spanish Ministry of the Economy, director of the Fundación de Estudios de Economía Aplicada (FEDEA) and consultant and director of various private companies. He currently sits on the boards of Abengoa, S.A., Abengoa Bioenergía, S.A. and Gesif, S.A. He has written many articles and papers on macroeconomics, the workplace, economic growth and the institutional economy and is also a regular columnist for the Cinco Días economic newspaper.

Daniel Villalba Vilá

Mr Villalba is professor of Business Structure at Madrid’s Universidad Autónoma, and holds a doctorate in Economic and Business Sciences from the same university and a master’s degree in Science in Operations Research from Stanford University. He has served as chairman of Inverban, Sociedad de Valores y Bolsa (securities and stock trading company), director of the Madrid Stock Exchange and chairman and director of various non-listed companies. He has had over 50 of his articles and books published to date.

José B. Terceiro Lomba

A professor of Applied Economics at Madrid’s Universidad Complutense, Mr Terceiro sits on the board of the Prisa Group, Iberia Líneas Aéreas de España and Corporación Caixa Galicia. He has also been Undersecretary to the Spanish Cabinet Office (1981-82) and has been awarded the Economic Sciences Award from the Confederation of Spanish Employers (CEOE) and the Rey Jaime I Award for Economics.

José Joaquín Abaurre Llorente

Audiovisual engineer.

Mercedes Gracia Díez

Professor of Econometrics at Madrid’s Universidad Complutense and at Centro Universitario de Estudios Financieros. She has had her scientific work published in the Journal of Business and Economic Statistics, Review of Labor Economics and Industrial Relations, Applied Economics and the Journal of Systems and Information Technology. She has also served as Director of Balance Sheet Management at Caja Madrid (1996-1999) and head of the Economics and Law Division of the Agencia Nacional de Evaluación y Prospectiva (1993-1996).

Miguel Martín Fernández

Mr Martín is currently chairman of the Asociación Española de Banca. He previously served as Deputy Governor and General Director of Credit Institution Oversight at the Spanish Central Bank, Deputy Secretary for the Spanish Ministry of Economy and Finance, Chairman of the Instituto de Crédito Oficial (ICO), Deputy Secretary for Budget and Public Spending and General Director of the Treasury for the Spanish Treasury Department. Prior to that, he was a member of the Economic and Financial Committee of the European Union and of the Monetary Committee of the European Union. He has also been awarded the prestigious honorary title “Gran Cruz de la Orden del Mérito Civil”.

Miguel Ángel Jiménez-Velasco Mazarío

After earning his degree in law from the Universidad Autónoma de Barcelona (1989), he went on to secure his master’s in Company Management and Finances from the Instituto Internacional de Empresas attached to Universidad de Deusto (1990-91). He has been Legal Director at Abengoa since 1996 and was appointed as Secretary and Legal Advisor to the Board of Directors in 2003.