PRESS RELEASE

Roma, 23 June 2004 – At the launch of trading of Terna, the chief executive of Enel, Paolo Scaroni, said that, based on the results of the Global Offering of Terna shares, Enel estimates that it will distribute an additional dividend of between 0.30 euro and 0.36 euro per share before the end of the year, presumably in the last quarter.

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