Indra's Shareholders' Meeting approves 16% increase in ordinary dividend

Indra's General Shareholders' Meeting held today agreed to distribute a dividend against 2007 earnings of euros 0.50 per share (gross), payable from 8 July. This represents a 16.3% increase in ordinary dividend on the previous year, and a dividend yield of 3% over yesterdays closing price. This dividend represents a pay-out of 55.5% over the 2007 year results.

The Board approved all the proposals presented with a positive vote from more than 99% of the attendees, whose record attendance represented more than 62% of the capital.

In line with standard policy, the company published the Board's proposals after the meeting was convened, together with detailed information on each of the items on the agenda.

Re-election and appointment of directors

The shareholders approved the re-election of eight directors whose three-year term of office ended today: the two executive directors and the two directors representing Caja Madrid.

- Isabel Aguilera, an independent director appointed in 2005 whose term of office ended today.

- Joaquín Moya-Angeler, Pedro Ramón y Cajal and Manuel Soto, independent directors since 1999. In his address, the chairman stated that, following the principle that no director may remain on the Board for more than twelve years. They will be gradually replaced over the next term of office.

The shareholders also approved the nomination of a new independent director: Rosa Sugrañes, a businesswoman of Spanish origin and American citizenship, with wide business and institutional experience in the US where she lives.

Rosa Sugrañes replaces Francisco Constans, who today finalizes this term. Constans has been an independent director at Indra since 1999 and a member of all the board committees during that time.

The chairman also announced that one of Caja Madrid’s representatives on the board, vice-chairman Matías Amat, will be replaced by Mariano Pérez Claver, who is also the institution’s general manager. This decision does not require shareholder approval because appointments of directors representing Caja Madrid correspond to the two legal entities.

Outlook for the future

In his address at the General Shareholders' Meeting, Regino Moranchel, CEO stated that "2007 was a very good year for Indra, marked by the integration of Azertia and Soluziona which was successful too". He went on to remark that “despite the fact that the current environment is more difficult, we expect 2008 to be just as successful in terms of reaching targets".

The chairman, Javier Monzón, presented Indra’s medium-term outlook to shareholders: “The company will become completely global. Not just in commercial terms but also with regard to production and talent management." He concluded by stating that “we are still looking to the future, with the same enthusiasm and ambition as on day one, and with the same determination we have had all these years to make that future a reality”.

Indra is the premier Information Technology company in Spain and a leading IT multinational in Europe and Latin America. It is ranked as the second European company in its sector according to stock market capitalisation, and it is one of the three Spanish companies with more investment in R&D. In 2007, revenues reached € 2.167 M, of which a third came from the international market. The company employs more than 24.000 professionals and has clients in more than 90 countries.