Endesa's Relevant Fact

At the meeting held on 16 January 2006, Endesa's (NYSE:
ELE) Board of Directors decided to call a General Shareholders'
Meeting for 24 February at 11:00am (first call) and 25 February at the
same time (second call).

   The agenda will be the following:

   1. Examination and approval, as appropriate, of the annual
accounts (balance sheet, income statement and notes to the financial
statements) and management report for the year ended 31 December 2005,
as well as the conduct of the Company's business during the year.

   2. Approval of proposed appropriation of results and distribution
of dividends.

   3. Appointment of account auditor for the Company and the
consolidated group.

   4. Authorisation for the derivative acquisition of shares of
treasury stock by the Company and its subsidiaries in accordance with
article 75 and 1st additional provision of the Spanish Companies Law.

   5. Delegation to the Board of Directors power to execute, develop
and amend, as appropriate, the resolutions adopted at the General
Shareholders' Meeting and to replace the powers received from it and
grant powers to put them on record and execute them.

   The Board of Director intends to submit the shareholders'
resolutions that could be required in relation to the takeover bid
launched by Gas Natural SDG, S.A., such as those related to the
modifications of Endesa's articles of association on which the Gas
Natural offer is contingent, for approval at a subsequent
extraordinary shareholders' meeting, to be called should the takeover
bid be authorised, in light of events that could affect it.

   * 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
Documento de Registro de Acciones 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, 2004. For all of these forward-looking
statements, we claim the protection of the safe harbour for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995.