04/09/97
The team will visit 26 cities in eight different countries
 
REPSOL LAUNCHES PRESENTATION OF ITS SHARE OFFERING TO INSTITUTIONAL INVESTORS AND ANALYSTS
 

Repsol has started today its presentation of the company�s Public Share Offering to institutional investors and analysts. The Repsol and SEPI team will visit 26 cities in eight countries to explain the business outlook and share offering of the oil Group on national and international markets.

Today�s presentation in the Madrid Stock Exchange, presided by its President, Antonio Zoido, included the participation of Repsol�s Chairman, Alfonso Cortina, and the President of the Sociedad Estatal de Participaciones Industriales (SEPI), Pedro Ferreras, as well as Jos� Mar�a Amus�tegui, President of BCH, as the manager for the Spanish institutional and retail tranche.

TomorRow, Thursday, April 10th, the offering will be presented in the Barcelona Stock Exchange and on Friday, April 11th, in the Bilbao and Valencia Stock Exchanges. In this manner the cycle of presentations on Spanish markets will be brought to a close.

The first stage of the international roadshow will take place in Continental Europe. On Monday, April 14th, the Repsol and SEPI team will begin a tight schedule of contacts with international investors and analysts in Frankfurt and Milan, moving on in the following days to Amsterdam, Rotterdam, The Hague, Dublin, Edinburgh, Glasgow, Geneva, Zurich, Paris and London.

A week later, on April 21st, the team will travel to the United States, where they will stop off at several cities, including New York, Boston, Philadelphia, Baltimore, Minneapolis, Chicago, Kansas City, Denver, San Francisco and Los Angeles.

The Sociedad Estatal de Participaciones Industriales (SEPI) has offered for sale a maximum of 30 million shares in Repsol, accounting for 10% of the company�s equity capital. The share offering compromises a retail and institutional tranche directed to both national and international markets. The institutional offering is made up of four tranches: Spain, United Kingdom, United States and Continental Europe and Rest of the World.

As far as the retail tranche is concerned, the term for presentation of buying applications closes on April 21st next. These applications may be revoked until 14.00 hours on April 24th, once the maximum price per share is made known on April 21st. Between April 22nd and April 25th inclusive, irrevocable buying orders may also be placed. Investors who have made purchase applications during the first period will have priority in the pro-rata allocation system.