As of December 31, 2006, the capital stock consisted of 1,220,863,463 fully subscribed and paid shares of €1 par value each, all listed on the Spanish (continuous market), New York and Buenos Aires Stock Exchanges.
| EVOLUTION | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | |
| Number of shares (million) (as at 31 Dec) | 300 | 300 | 300 | 1.188 | 1.221 | 1.221 | 1.221 | 1.221 | 1.221 | 1.221 | 1.221 | |
| Face value (euros per share) | 3 | 3 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
Last updated: 20 Mar 2007