ENDESA Starts Work on the New Valpardo Wind Farm in Avila

ENDESA (NYSE:ELE):

   --  The farm will have installed capacity of 21.5MW and an
        estimated output of 57GWh a year.

   --  It will require an investment of approximately Euro 20 million
        and is scheduled to come on stream at the end of this year.

   --  This project will bring ENDESA's installed capacity in the
        region of Castilla y Leon up to 267MW, accounting for 16% of
        the total capacity installed in this region.

   --  The construction of this wind power complex is part of
        ENDESA's strategic plan and underlines the company's
        commitment to the environment and sustainable development.

   ENDESA (NYSE:ELE) will have 21.5 MW of new wind capacity in the
region of Castilla y Leon once its cogeneration and renewable energy
subsidiary (ENDESA Cogeneracion y Renovables: ECYR) completes the
construction of the Valpardo wind farm in the town of Navalperal de
Pinares (Avila), located in the central part of the Malagon mountain
range. The farm is scheduled to start up at the end of this year.
   It will be equipped with 25 Gamesa G-58 and G-52 wind turbines,
each with a unit capacity of 850 kV and a height of 55 metres. With an
installed capacity of 21.5 MW, this farm is expected to produce 57 GWh
of power per year, the equivalent to the energy consumption of 14,250
households and will prevent 25,000 tons of CO2 emissions a year.
   This new farm - requiring an investment of Euro 20 million - is
the fourth to be built by ENDESA Cogeneracion y Renovables in Avila,
in addition to the Navazuelo, Altos de Cartagena and Navas del Marques
wind farms. When the Valpardo project has been completed ENDESA will
have total installed wind capacity of 70.23MW in the region. 
   This project will bring the Company's total installed electricity
capacity in the province of Castilla y Leon up to 267MW, 16% of the
total capacity installed in this region.
   Moreover, in order to adopt this project to its natural and
cultural surroundings a series of preventative, corrective and
compensatory measures have been implemented; these include
archaeological investigations and are designed to protect the soil and
local wildlife and vegetation. We would highlight the collaboration of
the Castilla y Leon Environmental Services to improve the monitoring
and protection of several species of wildlife such, as the black
stork, the Iberian imperial eagle and the black vulture.
   Construction of this wind power complex forms part of ENDESA's
strategic plan, which envisages bringing on line 2,400 MW of
additional capacity from renewable energies over a period of five
years, incremental to the 1,465 MW already installed. These new farms
add a new strand of renewable capacity to ENDESA's generation mix,
giving the company an appropriately diversified capacity and
underlining its commitment to environmental and sustainable
development issues in markets where it operates.
   * This document may contain certain forward-looking statements
regarding anticipated financial and operating results and statistics
that are subject to risks and uncertainties as well as to material
risks, changes and other factors which may be difficult to predict,
including, without limitation, those factors described in the Folleto
Informativo Continuado of Endesa filed within the Comision Nacional
del Mercado de Valores and in the Form 20-F of Endesa filed within the
Securities and Exchange Commission, both for the fiscal year ended
December 31, 2003. For all of these forward-looking statements, we
claim the protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995.