Published on 07/26/2000

In compliance with article 82 of the Law on the Equity Market, GRUPO FERROVIAL, S.A., hereby informs the Comisión Nacional del Mercado de Valores of the following:

AGREEMENT OF FERROVIAL TELECOMUNICACIONES, S.A. WITH FRANCE TELECOM

FERROVIAL TELECOMUNICACIONES, S.A., a subsidiary of GRUPO FERROVIAL, S.A., together with the other shareholders of LINCE TELECOMUNICACIONES, S.A., the holder of the fixed telephony license which operates under the trade name of UNI2, has reached an agreement with FRANCE TELECOM whereby the business related to the residential internet and mass market will be split from LINCE TELECOMUNICACIONES, S.A. and subsequently go to the subsidiary of FRANCE TELECOM denominated WANADOO, which it is estimated may shortly be listed on the Paris Stock Exchange.

Through this operation, FERROVIAL TELECOMUNICACIONES, S.A. maintains the holding it currently owns in LINCE TELECOMUNICACIONES, S.A. and will swap its stake in the split business for new WANADOO shares when this company is listed on the Paris Stock Exchange.