ENEL: FULVIO CONTI EXERCISES THE 2003 PLAN STOCK OPTIONS DURING THE LAST USEFUL “WINDOW” AND PURCHASES ENEL SHARES ON THE MARKET

Rome, 19 November 2008 – Enel announces that Chief Executive Officer Fulvio Conti exercised today 494,960 options to purchase Enel’s shares that were granted him (in his former position as Enel’s Chief Financial Officer) under the 2003 stock option Plan. This entailed the subscription of a corresponding number of newly-issued Enel shares at a price of 5.240 euros each, that were sold at the same time on the market at a price of 5.260 euros each.

Simultaneously Fulvio Conti purchased 19,000 Enel shares on the market at a price of 5.260 euros each, for a total consideration of 99,940 euros. This move confirms his complete confidence in the successful management of the Enel Group and therefore in a good performance of the Enel stock.

Mr. Conti’s decision to exercise the stock options is in accordance with the policy he announced in the press release of 12 April 2006, in which it was indicated that he would refrain, until his mandate had expired, from exercising the options granted him under different Enel stock option plans. The sole exception to this policy concerns the options set to expire in the course of his mandate (such as the above mentioned 494,960 options of the 2003 Plan), whose exercise is implemented by the CEO during the last useful “window” (as far as the 2003 Plan is concerned, the window is currently underway and will expire on 2 December 2008).

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