The Company presents strategy for the next three years that responds to evolving patterns of energy demand

IBERDROLA PROJECTS INVESTMENT PROGRAMME OF €24 BLN, NET PROFIT OF MORE THAN €3.5 BILLION IN 2010

THE NEW STRATEGIC PLAN 2008-10 ENVISAGES INVESTMENTS OF €17.8 BILLION ON ORGANIC ACTIVITIES AND €6.4 BILLION TO CLOSE THE ACQUISITION OF U.S. COMPANY ENERGY EAST

• With the friendly acquisition of ScottishPower completed and that of Energy East initiated, the Company enters a consolidation phase in its international expansion with the Atlantic Area as its main point of reference
   
• IBERDROLA ratifies its priority focus on growth in renewable energy (capacity projected to exceed 13,600 MW in 2010) and on quality of supply in Spain and abroad (investments of €5.8 billion planned)
   
• As a result of this new investment plan, and additional efficiency improvements, the Company expects to more than double net profit by the end of the period of the Plan compared to 2006

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