MECALUX Board of Directors to propose dividend distribution of 8.8 M euro

30 May 2008

The Mecalux Board of Directors will propose in the Shareholders’ Meeting to be held on 27 June an extraordinary distribution of dividends for €0.33 per share. The total amount will be €8,769,575, representing 25% of the net profit for 2007, which amounted to 35.1 M euro. The dividend payment will be charged to the unrestricted voluntary reserves account. With this proposal the Board maintains the company’s remuneration policy and its wish to offer maximum value to Mecalux shareholders.

Antonio González-Adalid, proposed as a new member of the Board
The Board of Directors will also propose to the Meeting the appointment of Antonio González-Adalid as a new member of the Board of Directors of the company representing Cartera Industrial REA, S.A. The firm has recently acquired 379,000 shares in Mecalux, which, added to the 3.59% acquired previously, brings its holding up to 5% of the capital. González-Adalid, second vice-chairman and managing director of Cartera Industrial REA, S.A., will bring to the Mecalux Board his experience in the industrial and financial sector.

Antonio González-Adalid, 58, is presently second vice-chairman and managing director of Cartera Industrial REA, S.A. The aim of this company is to take up 5% holdings in companies of proven standing and it has chosen Mecalux in the early stages of this project. González-Adalid is also senior advisor of the capital risk fund Mercapital, a board member of Abantia/Ticsa, adviser to Lubasa and a board member of Ernst & Young. His professional career is closely linked to the energy sector. He has been executive vice-chairman of Repsol YPF and chairman of ENAGAS and was instrumental in floating both companies. He has also been a member of the Board of Directors of Gas Natural Sdg.

He is also president of the IESE members group, member of the Advisory Council for the study of Energy Prospecting in Spain on a horizon of 2030, under the Ministry of Industry, and vice-chairman of Lloyd’s Register of Shipping Spanish Committee. Antonio González-Adalid is also vice-chairman of the Spanish Association against Cancer and trustee of that association’s Scientific Foundation.

Approval of the results for 2007
The next General Meeting of Shareholders of Mecalux will also examine and approve, as applicable, the company’s annual accounts. In 2007 Mecalux closed the year with a sales rise of 13%, reaching 598.1 M euro as against the 531.1 M of the previous year. Mecalux continues increasing its penetration onto various markets and the company’s sales were up in all areas, by some 12% in the south of Europe, 24% on other European markets and 21% in South America. The Mecalux Group has comfortably met its development forecasts with excellent performance in the automated-warehouse division, which during 2007 signed projects for a value of 82 M euro. Also, Mecalux increased its productivity and efficiency ratios, increasing EBITDA by 18% to reach 82.9 M euro and lifting before-tax profit by 38%. The net profit fell by comparison, since in 2006 tax deductions and tax credits had been activated which were not present in 2007, so Mecalux dropped from 48.2 M euro to 35.1 M euro. In the first quarter of 2008 Mecalux maintained positive growth with a sales increase of 7% and an increase in EBITDA of 18%.