PARQUESOL : JACINTO REY. PRESIDENT DE PARQUESOL ET DE GRUPO SAN JOS? ANNONCE L'INTEGRATION DES DEUX SOCIETES

Valladolid, le 26 juin 2006.- Lors de l'Assemblée Annuelle des actionnaires de Parquesol qui s'est déroulée ce matin à Valladolid, M. Jacinto Rey, Président de Parquesol et de Grupo San José, a annoncé aux actionnaires de Parquesol qu'il proposera aux Conseils d'Administration des deux sociétés l'intégration de celles-ci.

Le processus d'intégration n'a pas encore été défini car les experts réfléchissent à différentes alternatives fiscales et opérationnelles, mais toutes les activités des deux sociétés seront regroupées dans une seule société cotée en bourse.

To that end, independent valuators will advise on the operation. In due course an Strategic Plan will be developed and presented to analysts, investors and the media.

Mr. Rey outlined that Parquesol's shareholders will become shareholders of a more powerful company, more diversified, bigger and better fit to face larger projects and able to cope with succession a tougher environment. He stressed that the EBITDA and profits of the forthcoming company will be more important, recurrent and sustainable.

Mr. Rey also mentioned that all the real estate assets of both groups will be integrated providing a more diversified real estate business both geographically and by products. The real estate business will be managed independently of the other business areas of the Group.

Parquesol, is a traded real estate company with more than 30 years of expertise. It's activity is developed in Spain, France, Portugal and Poland. Main shareholders are Grupo San José (53,08%), Caja Castilla la Mancha (13,37%) and Caja Municipal de Burgos (5,035), and free float (28,52

For more information:

Rocio Montero. Head of IR
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