Grupo Ferrovials Board of Directors has voted to extend the stock appreciation rights system (SARS) to include another ninety-four company executives. This system, which will be implemented in May, will use the same regulation and mechanism as has been in place since 31 March 2000 for executive directors and for senior executives reporting directly to the Board of Directors or its delegate bodies. The total number of shares considered in order to calculate this remuneration to all beneficiary executives amounts to 1,401,000, i.e. 1% of share capital. The extension of this remuneration system, which is linked to share performance, is in line with the companys commitment to creating value and aligning managements objectives and aims with those of the shareholders. Other changes to the existing system The Board of Directors will submit to the forthcoming Shareholders Meeting a resolution modifying the remuneration system for directors and executives that was approved on 31 March 2000. These technical modifications consist of extending the stock appreciation rights system to include executive directors and senior executives who report directly to the Board of Directors or its delegate bodies, even if not members of the companys Management Committee, and of establishing a maximum number of shares which may be considered in calculating the total remuneration for all beneficiary executives (1,702,647 shares, i.e. 1.213% of share capital).