Madrid, 27 July 2005. Cintra has conducted a new indicative valuation of its main operating assets as of June 2005. The valuation, 5.772 billion euro, is 14.7% higher than the figure obtained six months ago (5.032 billion euro in December 2004) and includes ten concessions that have already been operating for some time and represent a sizeable proportion of the portfolio, in addition to the car park business.
The valuation was obtained by discounting cash flow to the shareholder.
Another five assets are included at book value for the moment, and they will be valued using discounted cash flow as soon as they have a sufficient track record.
ASSET VALUATION
