Repsol YPF S.A.

Mollerussa (Lérida), 1948. Graduate in Economics by the University of Barcelona and Master by the IESE. He began his professional career at Arthur Andersen, where he became Partner and Director of Auditing. In 1988, he joined la Caixa as Deputy Managing Director. From 1999 to 2004, he held the position of Managing Director for the la Caixa Group and from 1997 to 2004 he was Chairman of Gas Natural Group. During his extensive business career, Antonio Brufau has served on the Board of Directors of several companies, including Enagás, Abertis, Aguas de Barcelona, Colonial, Suez, Caixa Holding, the CaixaBank France and CaixaBank Andorra. Until December 2005, he was the only Spanish member in the Executive Committee of the International Chamber of Commerce (ICC). In July 2002, he was appointed president of Circulo de Economía de Barcelona, a position that he occupied until July 2005. Currently, he is Chief Executive Officer of Repsol YPF as well as Chairman of YPF, S.A., Vice-Chairman of Gas Natural SDG, S.A., Chairman of YPF, S.A., Fundation Repsol and Chairman of Club Español de la Energía. Mr. Brufau was appointed Director of Repsol YPF by resolution of the Board of Directors on July 23rd, 1996, subsequently ratified by the Annual Shareholders Meeting hold on June 6th, 1997 and re-elected by the Annual Shareholders Meeting on March 24th, 1999, on April 4th, 2003 and on May 9th, 2007.

Graduate in Economics and Business Studies at Madrid University and Chartered Accountant, he has great experience as an auditor. He was an executive partner in Arthur Andersen; Board Member and Vice President of the CNMV (administrator of the Spanish Stock Market); and General Manager of the Caja de Ahorros y Pensiones de Barcelona. In 1996 he was appointed Assistant Managing Director of this Savings Bank, a position which he has occupied to date. He is also Chairman of the Spanish Financial Futures Market (Mercado Español de Futuros Financieros).

Industrial Engineer by the Madrid Escuela Técnica Superior de Ingenieros Industriales and expert in financial information systems, he has occupied the position of Chief Auditor at Arthur Andersen, and Economic and Financial Director at the companies Elosua and Page Ibérica. In 1993, he joined Repsol YPF as Economic and Financial Director of Refining and of Repsol Commercial, where he was also Director for managing the company-owned-and-operated network, CAMPSA Red. He was Director of Repsol YPF Service Stations in Europe.

Antonio Gomis Sáez, appointed Executive Director of YPF, had been until now the Company's Director of Chemical EURM. His professional career in Repsol YPF Group began in 1974, and in 1986 he was appointed Director of International and Institutional Relations of Repsol, S.A., a position he held until 1997. That year he was named Executive Director of Energy for the Government of Spain. In 2000, he joined Repsol YPF Group again as Corporate Director of External Relations. With this appointment he became a member of Repsol YPF's Executive Committee.

Badalona, 1964. Graduate in Information Sciences by the University of Navarra, he also has a degree in Business Administration and Management by the ESADE. Having started his professional career writing for the local press in Navarra and for La Vanguardia newspaper, in 1987 he joined the Europa Press news agency, where he became Chief Economic Correspondent in Barcelona. In 1990 he entered the business world as Head of Communication for Gas Natural SDG. In June 1991 he was appointed Director of External Relations of the Barcelona Division of Gas Natural SDG and in 1994 he was promoted to Corporate Director of External Relations of the Gas Natural Group, being appointed Head of the Chairman´s Office in 1995. In September 1996 he became a member of the Gas Natural Group Management Committee. In November 2004 he joined Repsol YPF as Corporate Director of Communication and Head of the Chairman´s Office .

Graduate in Economics and Business Studies by the Madrid Universidad Autónoma. Trade Expert and State Economist since 1981. With extended professional experience in the energy sector and particularly in Repsol, he took part in negotiations for Spain's entry in the European Common Market, the adaptation of the Spanish Petroleum Monopoly (CAMPSA), and the Gas Protocol. He was Secretary of State for Energy and Natural Resources and, to date, has held the position of Corporate Director of Shared Services at Repsol YPF.

Industrial Engineer by the Madrid Escuela Técnica Superior de Ingenieros Industriales, he started his career in Repsol YPF back in 1980, occupying several technical and management posts in the Refining area. In 1992, he joined the Group's Department of Planning and Control, holding responsibility in the planning of the gas business, and in 1994 was appointed Director of Planning and Control for Chemicals, becoming head of this business area in 2002. To date, he has held the position of Corporate Director of Planning and Control for Repsol YPF.

Industrial Engineer by the Escuela Técnica Superior de Ingenieros Industriales of Madrid. She carried out her first years of professional activity in the iron and steel industry and worked thereafter for one year in Pittsburgh, Pennsylvania, at Carnegie-Mellon University, in association with the Department of Engineering and Public Policy. Later, as a member of the Corps of Industrial Engineers of the Spanish Ministry of Industry and Energy, she was appointed General Subdirector of International Industrial Relations, in charge of both bilateral and EU relations and she participated actively in the negotiations for the incorporation of Spain in the EEC. Afterwards, she was General Subdirector of Energy Planning including the areas of Environment and Research and Development. In 1994, she joined Repsol S.A. as Director of the Environmental Department, later assuming Safety and Quality responsibilities. Since January 2005, she has been Executive Director of Resources, responsible for Engineering, Information Systems, Technology, Purchasing and Contracting and Environment and Safety.

Madrid, 1951. Graduate in Law at the Universidad Complutense (Madrid), and Counsel of the State (not practising). An attorney specialized in mercantile and administrative law, he was Director of Legal Affairs for CAMPSA until the end of the oil monopoly, and has exercised as attorney at law, singularly in the energy industry. Currently, he is Director of Compañía Logística de Hidrocarburos, S.A. (CLH), YPF, S.A. and Repsol - Gas Natural LNG, S.L., and Member of Foundation Repsol. Mr. Suárez de Lezo was appointed Director of Repsol YPF, S.A. by resolution of the Board of Directors on 2nd February, 2005, and subsequently ratified and appointed by the Annual Shareholders Meeting on 31st May, 2005.

Madrid, 1943. BA Economics, Profesor of Commerce, chartered accountant and founding member of the Registry of Economic Auditors. He joined Arthur Andersen in 1965 where he was Partner from 1976 to 2000. Up to March, 2004 he headed the Euroamerica Foundation, of which he was founder, entity dedicated to the development of business, political and cultural relationships between the European Union and the different Latin American Countries. Currently he is Director of Gestevisión Telecinco, S.A., Member of the Advisory Board of Exponencial-Agencia de Desarrollos Audiovisuales, S.L., Ambers & Co, Responsables Consultores and FRIDE (Foundation for the international relations and the foreign development), Chairman of Arcadia Capital, S.L. and Información y Control de Publicaciones, S.A., Member of Foundation Germán Sánchez Ruipérez and Foundation Independiente and Vicepresident of Foundation Euroamérica Mr. Durández was appointed Director of Repsol YPF, S.A. by resolution of the Annual Shareholders Meeting hold on 9th May, 2007.

Burgos, 1953. Ba Law, Complutense University of Madrid. Since 1983 Professor of Civil Law, Formerly at University of Santiago de Compostela and Currently at the UNED. Practising lawyer since 1974, specialising in Civil and Mercantile Law and Arbitration. In December 2007, he was appointed Dean of the Madrid Bar Association. In 2002 he was appointed Member of the Ad- Hoc Committee for Promotion of Transparency and Security on Financial Markets and in Listed Companies. He is Director and Member of the Audit and Control Comitte of Barclays Bank, S.A. Mr. Hernández-Gil was appointed Director of Repsol YPF, S.A. by resolution of the Board of Directors on 6th June, 1997, subsequently ratified and appointed by the Annual Shareholders Meeting on 6th June, 1997, and re-elected by the Annual Shareholders Meeting on 28th March, 2001 and 31st May, 2005

Burgos, 1953. Ba Law, Complutense University of Madrid. Since 1983 Professor of Civil Law, Formerly at University of Santiago de Compostela and Currently at the UNED. Practising lawyer since 1974, specialising in Civil and Mercantile Law and Arbitration. In December 2007, he was appointed Dean of the Madrid Bar Association. In 2002 he was appointed Member of the Ad- Hoc Committee for Promotion of Transparency and Security on Financial Markets and in Listed Companies. He is Director and Member of the Audit and Control Comitte of Barclays Bank, S.A. Mr. Hernández-Gil was appointed Director of Repsol YPF, S.A. by resolution of the Board of Directors on 6th June, 1997, subsequently ratified and appointed by the Annual Shareholders Meeting on 6th June, 1997, and re-elected by the Annual Shareholders Meeting on 28th March, 2001 and 31st May, 2005

Burgos, 1953. Ba Law, Complutense University of Madrid. Since 1983 Professor of Civil Law, Formerly at University of Santiago de Compostela and Currently at the UNED. Practising lawyer since 1974, specialising in Civil and Mercantile Law and Arbitration. In December 2007, he was appointed Dean of the Madrid Bar Association. In 2002 he was appointed Member of the Ad- Hoc Committee for Promotion of Transparency and Security on Financial Markets and in Listed Companies. He is Director and Member of the Audit and Control Comitte of Barclays Bank, S.A. Mr. Hernández-Gil was appointed Director of Repsol YPF, S.A. by resolution of the Board of Directors on 6th June, 1997, subsequently ratified and appointed by the Annual Shareholders Meeting on 6th June, 1997, and re-elected by the Annual Shareholders Meeting on 28th March, 2001 and 31st May, 2005

Barcelona, 1948. Graduate in Economics. His professional activity began in Arbora & Ausonia, S.L. in 1972, where he held several positions until he was appointed Executive Director. In 1988 he joined Agrolimen, S.A. like Strategy Director. In 2001 he is appointed Managing Director of Agrolimen, S.A. He is Chief Executive Officer of Arborinvest, S.A. and Corporación Agrolimen, S.A., Chairman of the following companies: Affinity Petcare, S.A., Preparados Alimenticios, S.A. (Gallina Blanca Star), Biocentury, S.L., The Eat Out Group, S.L., Reserva Mont-Ferrat, S.A., Arbora & Ausonia, S.L.U, Director of Quercus Capital Riesgo, S.G.E.C.R, S.A., Consorcio de Jabugo, S.A. y Member of the Regional Board of Telefónica in Catalonia. He is also Vice-Chairman of Círculo de Economía, Vice-Chairman of Foundation ESADE, Member of IAB (International Advisory Board) de la Generalitat de Catalunya, Member of Foundation Lluis Carulla, Member of the Management Board of Instituto de la Empresa Familiar and Member of Foundation MACBA (Museo de Arte Contemporaneo de Barcelona). Mr. Carulla was appointed Director of Repsol YPF, S.A. by resolution of the Annual Shareholders Meeting hold on 16th June, 2006.

Sevilla, 1940. Ba in Economics and Law. Started Career In Arthur Andersen & Co. Subsequently General Manager of the Spanish Subsidiary of the Deltec Banking Corporation and Chief Finance Officer of Madridoil and Transportes Marítimos Pesados. Joined Repsol Group in 1979 holding different Management Positions. In 1989 he was appointed Chief Financial Officer, up to the end of his career in the company. Up to 31 December 2005 was member of the Standard Advisory Council of IASB. Currently he is Director of the Britannia Steam Ship Insurance Association, Ltd., Orobaena S.A.T. and Faes Farma, S.A. Mr. Carmelo was appointed as Director of Repsol YPF, S.A. by resolution of the Board of Directors on 23rd July, 2003, subsequently ratified by the Annual Shareholders Meeting hold on 31st March, 2004 and re-elected by the Annual Shareholders Meeting on May 9th, 2007.

Sevilla, 1940. Ba in Economics and Law. Started Career In Arthur Andersen & Co. Subsequently General Manager of the Spanish Subsidiary of the Deltec Banking Corporation and Chief Finance Officer of Madridoil and Transportes Marítimos Pesados. Joined Repsol Group in 1979 holding different Management Positions. In 1989 he was appointed Chief Financial Officer, up to the end of his career in the company. Up to 31 December 2005 was member of the Standard Advisory Council of IASB. Currently he is Director of the Britannia Steam Ship Insurance Association, Ltd., Orobaena S.A.T. and Faes Farma, S.A. Mr. Carmelo was appointed as Director of Repsol YPF, S.A. by resolution of the Board of Directors on 23rd July, 2003, subsequently ratified by the Annual Shareholders Meeting hold on 31st March, 2004 and re-elected by the Annual Shareholders Meeting on May 9th, 2007.

Paris (France), 1949. Ba Economics, University of São Paulo and Phd at Hertford College, Oxford. Former Secretary of the State Business Budget Office and Deputy Minister of Planning in Brazil. From 1988 to 1999 he held the position of Executive Vice President of Banco Inter American Express, S.A. From 1999 to 2001 he was Chairman of Brazilian State Oil Company Petrobrás. He is Member of the Strategic Board of ABDIB, Member of the Board of Ashmore Energy Internacional, Chairman of Brenco – Companhia Brasileira de Energía Renovável, Member of Coinfra, Member of the Advisory Board of Lhoist do Brasil Ltda., Member of the Conseil de Surveillance of Peugeot Citroen, S.A. and Vice-Chairman of the Board of the Brazilian Foundation for Sustainable Development. Mr. Reichstul was appointed Director of Repsol YPF, S.A. by resolution of the Board of Directors on 29th December, 2005, and subsequently ratified and appointed by Annual Shareholders Meeting on 16th June, 2006.

Isidre Faine Casas holds a Doctorate in Economic Sciences and an ISMP in Business Administration from Harvard University, and likewise holds a Diploma in Senior Management from the IESE Business School. He is a member of the Royal Academy of Economics and Finance and of the Royal Academy of Doctors. Moreover, Isidre Fainé is Vicechairman of the Association of Spanish Savings Banks (CECA) . He began his professional banking career as Investment manager for Banco Atlántico in 1964, later becoming General Manager of Banco de Asunción in Paraguay in 1969. On his return to Barcelona, he held various managerial posts in financial entities: Head of Personnel at Banca Riva y García (1973), Director and General Manager of Banca Jover (1974) and General Manager of Banco Unión, S. A. (1978). In 1982 he joined ”la Caixa”, and was appointed Deputy Executive General Manager and in 1999 General Manager of the entity. Currently he is Chairman of “la Caixa”, Chairman of Abertis Infraestructuras, S.A., Vice chairman of Telefónica, S.A., Vice chairman of Criteria CaixaCorp, S.A., 1st Vice chairman of CECA (Confederación española de Cajas de Ahorros) and Chairman of Foundation “la Caixa”. He is also Director of Banco BPI, S.A.. ,Sanef and Inbursa, and representative of Criteria Caixacorp in the Board of Hisusa (Holding de Infraestructuras y Servicios Urbanos,S.A.) Mr. Fainé was appointed as Director of Repsol YPF, S.A. by resolution of the Board of Directors on 19th December, 2007 and subsequently ratified and appointed by the Annual Shareholders Meeting on May 14th, 2008.

Pamplona (Navarra), 1951. Ba Economics and Actuarial Science. Former Director-General Manager of Allianz-Ercos and General Manager of BBVA Group. Currently Director of Telefónica Móviles México, Actividades de Construcción y Servicios (ACS), S.A., Abertis Infraestructuras, S.A., Grupo Empresarial Ence, S.A., Celistics, L.L.C. and Consulnor, S.A., Delegate of the Board of Telefónica, S.A. in the Basque region, Member of the Advisory Board of Telefónica Spain, Member of Foundation Novia Salcedo, Director of Agencia de Calidad y Acreditación del Sistema Universitario Vasco and Member of the Círculo de Empresarios Vascos. Mr. Echenique was appointed Director of Repsol YPF, S.A. by the Annual Shareholders Meeting hold on 16th June, 2006.

Betanzos (La Coruña), 1939. Civil Engineer. In 1965 he began his career in Ferrovial, where he held several positions. Founder of Sacyr, where he was Managing Director up to 2000 and Chairman up to 2003. From 2003 to 2004, following the merger of Sacyr and Vallehermoso, he was Chairman of the Sacyr Vallehermoso Group. Currently he is Director of Sacyr Vallehermoso, S.A. (as representative of Prilou, S.L.), Chairman of Valoriza Gestión, S.A.U. and Director of Autopista Vasco Aragonesa Concesionaria Española, S.A., Vallehermoso División Promoción, S.A.U., Testa Inmuebles en Renta, S.A., Sacyr, S.A.U., Itínere Infraestructuras, S.A. and Somague S.G.P.S., S.A. Mr. Loureda was appointed Director of Repsol YPF, S.A. by resolution of the Board of Directors on 31st January, 2007 and subsequently ratified and appointed by the Annual Shareholders Meeting on May 9th, 2007.

Madrid, 1941. BSc in Pharmacy, Doctor and Permanent Member of the Royal Academy of Pharmacy. Formerly Chairman of Fábrica de Productos Químicos y Farmacéuticos Abelló, S.A., Antibióticos, S.A., La Unión y el Fénix Español and Airtel (now Vodafone); Vice-Chairman of Banco Español de Crédito, SCH and Unión Fenosa, S.A.; and Director of Banco Central. Currently Chairman of Torreal, S.A. and Alcaliber, S.A (representing Nueva Compañía de Inversiones, S.A.); Vice-Chairman of Sacyr Vallehermoso, S.A. (representing Nueva Compañía de Inversiones, S.A.) and CVNE (representing Austral, B.V.); and Director of Zed Worldwide, S.A. (representing Nueva Compañía de Inversiones, S.A.) and Gruppo Banca Leonardo. Awarded the Great Cross of the Order of Civil Merit, the Juan Lladó Prize, and named Entrepreneur of the Year by the Chamber of Commerce and Industry of Madrid in 1997. Mr. Abelló was appointed Director of Repsol YPF, S.A. by resolution of the Board of Directors on November 29th, 2006 and subsequently ratified and appointed by the Annual Shareholders Meeting on May 9th, 2007.

Barcelona, 1953. He holds a degree in Economics and Law from the University of Deusto and a Masters in Law from the London School of Economics and Political Sciences. He began his career in the financial sector in 1980 when he became International Director of Banco Hispano Americano. In 1992, he moved to Banco Central Hispano, where he was appointed General Manager for Catalonia and, two years later, worked as General Manager of Commercial Banking, where he also served on the Management Committee. After the merger with Banco Santander, Juan María Nin took over the post of General Manager of Commercial Banking and was later appointed General Manager of the Companies Division of Santander Central Hispano, on whose Management Committee he also served. He was appointed CEO of Banco Sabadell in 2002. He has a longstanding career in commercial, international and corporate banking, as well as a great deal of experience in managing mergers and acquisitions of banks. He has served on the Board of Directors of various industrial and services companies. Currently he President and CEO of “la Caixa”, Vice chairman of Foundation “la Caixa”, Member of the Board of Directors of Criteria CaixaCorp, S.A., CaiFor, S.A., Gas Natural SDG, S.A., Banco BPI, S.A. and Grupo Financiero Inbursa, member of the Board of Governors of Universidad Deusto, Foundation ESADE, member f the Board of Directors of Círculo Ecuestreand member of APD (Management Progress Association), Foundation Federico García Lorca and Foundation Consejo España-Estados Unidos. Mr. Nin was appointed as Director of Repsol YPF, S.A. by resolution of the Board of Directors on 19th December, 2007 and subsequently ratified and appointed by the Annual Shareholders Meeting on May 14th, 2008.

Barcelona. 1942. Civil Engineer and PADE-IESE (top Management Diploma at the Navarra University). Amongst other responsibilities, he is currently Vice President and Managing Director of Cementos Molins, S.A. (Spain), President of Corporación Moctezuma (Mexico), and First Vice President of Cementos Avellaneda, S.A. (Argentina).

Arucas (Las Palmas), 1950. He has been the profesor in charge of economic policy of the Universidad Complutense of Madrid. During his long professional tenure, amongst other positions, he was Subsecretary of the Ministry of Industry and Energy, President of the National Institute of Industry (Instituto Nacional de Industria, I.N.I.), Minister of Industry and Energy and President of Spanish Securities Market Commission (Comisión Nacional del Mercado de Valores). Currrently he is Director of Adolfo Dominguez, S.A., Testa Inmuebles en Renta, S.A., Eolia Renovables de Inversiones SCR, S.A., Grupo Copo de Inversiones, S.A. y Begar, S.A., y Sole Director of Eurofocus Consultores, S.L. Mr. Croissier was appointed Director of Repsol YPF, S.A. by resolution of the Annual Shareholders Meeting hold on 9th May, 2007.

Murcia 1949. Civil Engineer (Santander – 1972). General Management Programme at IESE in 1986. From 1972 to 1974, Technical Manager of HICEOSA. From 1974 to 1987, Works Manager, Delegate and Head of Department in Ferrovial, S.A. Cofounder of SACYR, Delegate from 1987 to 1996, Corporate Development Manager from 1996 to 2000, Managing Director from 2000 to 2004. Currently Executive Chairman of Sacyr Vallehermoso, S.A. (since November 2004) and Director of the following companies in the Sacyr Vallehermoso Group: Testa Inmuebles en Renta, S.A., Sacyr, S.A.U., Vallehermoso División Promoción, S.A.U., Itínere Infraestructuras, S.A., Valoriza Gestión, S.A.U., Autopista del Atlántico Concesionaria Española, S.A., Autovía del Barbanza Concesionaria de la Xunta de Galicia, S.A., Sociedad Concesionaria Aeropuerto de Murcia, S.A., Aeropuerto de la Región de Murcia, S.A., Somague S.G.P.S., Vice Chairman of Autopista Vasco Aragonesa Concesionaria Española, S.A., Joint and Several Administrator of Sacyr Vallehermoso Participaciones Mobiliarias, S.L. and Sacyr Vallehermoso Participaciones, S.A.U., and Chairman of Tesfran. Medal of Honour from School of Civil Engineers in 2006. Mr. Rivero was appointed as Director of Repsol YPF, S.A. by resolution of the Board of Directors on 29th November, 2006 and subsequently ratified and appointed by the Annual Shareholders Meeting on May 9th, 2007.

Córdoba, 1946. Phd Economics, Complutense University of Madrid and University of Minnesota, Professor of Economic Analysis, Commercial Expert and Economist of the State. Former Executive Chairman of Red Eléctrica de España, Director of CAMPSA and major financial institutions. Formerly Chief Economist in the Sustainable Development Department of Inter-American Development Bank and Consultant in the Banking Supervision and Regulation Division of the International Monetary Fund. Currently she is advisor to the Iberoamerican Secretary General (Secretaría General Iberoamericana), Director of Solfocus Europe, professor for Economic Analysis in various universities and member of a special Board for promoting Knowledge Society in Andalusia. Mrs. Beato was appointed Director of Repsol YPF, S.A. by resolution of the Board of Director on December 29th, 2005, and subsequently ratified and appointed by the Annual Shareholders Meeting on June 16th, 2006.

Mexico D.F., 1953. Graduate in Law from the Autonomous University of Mexico, Masters degree in International Relations from the Institute of Social Studies in The Hague. He began his career in Pemex in 1983 and has occupied various important posts within the company. Between 2001 and 2003 he was the Mexican Ambassador in Ankara (Turkey) and, concurrently, in various Central Asian countries. He is currently the Managing Director of Pemex Internacional España, S.A. and P.M.I. Holdings Petróleos España, S.L. as well as being the Mexican representative for OPEC and the International Energy Agency, amongst other forums. The Company Pemex Internacional España, S.A. was appointed Director of Repsol YPF, S.A. by resolution of the Board of Directors on 26th January, 2004, subsequently ratified by the Annual Shareholders Meeting on 31st March, 2004, and re-elected by the Annual Sharehoders Meeting on 16th June, 2006.