DATE INCREASE/DECREASE RESULTING CAPITAL
february-23 1,407,766.98 447,864,089.62
january-23 6,675,116.64 446,456,322.64
december-22 1,739,130.43 439,781,206.40
november-22 2,868,226.58 438,042,075.97
february-22 662,567.02 435,173,849.39
december-21 1,000,000 434,511,277.37
september-21 71,428.57 433,511,277.37
septiembre-21 85,177,761.99 433,439,848.80
august-21 1,866,666.66 348,262,086.81
june-20 1,209,108.52 346,395,420.15
june-19 724,240.02 345,186,311.65
october-18 720,464.67 344,462,071.63
september-17 2,972,140.94 343,741,606.96
august-17 895,901.64 340,769,466.02
march-17 3,761,022.89 339,873,564.38
october-15 307,590,400 336,112,541.49
october-15 2,737,534.21 28,522,141.49
may-15 2,995,462.58 25,784,607.28
september-14 2,045,200.28 22,789,144.70
july-14 1,877,974.50 20,743,944.42
march-14 1,678,517.32 18,865,969.92
december-13 1,193,600 17,187,452.60
october-13 4,782,604.68 15,993,852.60
april-13 953,392,77 11,211,247.92
april-13 842,600 10,257,855.15
february-13 827,572.53 9,415,255.15
february-13 -77,289,143.58 8,587,682.62
november-11 27,810,000 85,876,826.20
october-11 2,973,597.80 58,066,826.20
march-11 6,687,855 55,093,228.40
febrero-11 11,920,296.90 48,405,373.40
december-10 -54,727,655.25 36,485,103.50
july-10 366,364.50 91,212,758.75
december-09 36,998,520.50 90,846,394.25
july-09 -84,002,683.05 53,847,873.75
december 2006 (fusión) 77,418,860.56 137,850,566.80
november-06 20,143,902.08 60,431,706,24
march-06 29,016,504.32 40,287,804.16
february-06 818,020.48 11,271.299.84

Urbas Grupo Financiero, S.A. is a Mercantile Company founded in 1944 with the legal form of a Public Limited Company and is therefore governed by the Capital Companies Law. The share capital of Urbas Grupo Financiero, S.A. registered in the Mercantile Registry of Madrid amounts to 346,395,420.15 euros, consisting of 34,639,542,015 shares of 0.010 euros par value each.