ENEL: THE SHAREHOLDERS MEETING APPROVES 2005 FINANCIAL STATEMENTS AND THE STOCK OPTION PLAN FOR 2006

Published on Friday, 26 May 2006

¿ Financial statements as of 31 December 2005 approved; dividend of 0.63 euro per share for full year 2005 resolved (0.19 euro already paid as interim dividend in November 2005 and balance of 0.44 euro to be paid in June 2006); ¿ Stock option plan for 2006 approved. Board of Directors authorized to increase the share capital to serve the plan; ¿ Amendment to bylaws approved: established procedure for appointing the executive in charge of preparing corporate accounting documents.

Rome, 26 May 2006 – The Shareholders’ Meeting of Enel S.p.A. met today in Rome in ordinary and extraordinary session under the chairmanship of Piero Gnudi.

In the ordinary session the Meeting approved the financial statements of Enel S.p.A.  as of 31 December 2005 and took note of the results of the consolidated financial statements of the Enel Group. Acting on a proposal of the Board of Directors, the Meeting then approved a full-year dividend for 2005 of 0.63 euro per share with the distribution of the balance of 0.44 euro per share following the payment of an interim dividend of 0.19 euro per share in November 2005.
The balance of the dividend will be paid as from 22 June 2006, with the ex dividend date set at 19 June (coupon no. 7).

In accordance with the provisions of the Investor Protection Act (Law 262/2005), the Meeting also approved, in ordinary session, the 2006 stock option plan for Enel Group executives and vested the Board of Directors with all the powers necessary to implement the plan. Accordingly, the Meeting, in extraordinary session, also granted the Board a five-year authorization to increase the share capital by a maximum of 31,790,000 euro to serve the 2006 stock option plan.

In the extraordinary session, the Meeting also approved an amendment to the bylaws required by the Investor Protection Act, assigning the Board of Directors the task of appointing and dismissing the executive in charge of preparing corporate accounting documents, after the Board of Statutory Auditors has expressed its opinion.

Price Sensitive | May, 26 2006

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