PRISA has come to an agreement in principle with its banks

PRISA has reached an agreement in principle with the banks of its bridge loan facility (HSBC, Santander, Banesto, Cajamadrid, La Caixa, BNP Paribas, and Natixis) signed December 20th 2007, to extend its bridge financing into a long term credit facility with a the maturity date of such loan until of May 19th 2013 with favorable terms and conditions.

The agreement reached with the bridge banks is part of an overall restructuring process of the group's debt, which will allow PRISA to develop a stable capital structure in the medium and long term, in line with its strategic plan.

During this period, with the support of its financial institutions, PRISA will establish a business strategy that will reinforce its financial and capital structure, allowing the Group to be better positioned and to take advantage national and international opportunities.

The transformation of the bridge alongside other measures that PRISA has already taken such as minority partnerships, strategic acquisitions and joint ventures will serve as support for the implementation of the transformational strategy it has embarked on.

The signed agreement, is subject to the acceptance of the banks of the syndicated facility of PRISA, among other conditions, which are underway and reflects the support and confidence of lenders in the Group and its diversified business portfolio, which maintains a strong cash flow generation ability in spite of the current economic conditions.