ENDESA Announces The Payment Of The Final Dividend 2003

Business Wire, June 10, 2004

Business Editors

NEW YORK--(BUSINESS WIRE)--June 10, 2004

ENDESA's (NYSE:ELE) Annual Shareholders Meeting held last April 2nd, 2004 approved a gross dividend for the year 2003 of 0.703 euros per share of which 0.264 euros per share was paid on January 2nd, 2004 as interim dividend.

The final gross dividend against 2003 earnings will be paid from July 1st , 2004 and will amount to 0.439 euros per share. Accordingly, from July 1st 2004, ENDESA stock will trade ex-dividend.

Payment of the expressed amount, once the appropriate withholding in respect of the corresponding tax has been deducted, shall be made via Santander Central Hispano Investment, S.A., in accordance with prevailing provisions for participating entities, using the means which Iberclear makes available to its custodian entities with which shareholders have deposited their shares, upon presentation of accrediting documentation for the book entries they own.

The agreement to pay a supplementary dividend passed by the General Shareholders' Meeting was notified to the CNMV on 2 April 2004.