SOURCE: PARQUESOL

September 26, 2007 03:35 ET

PARQUESOL : MARIO SANZ, NEW MANAGING DIRECTOR OF PARQUESOL

MADRID, SPAIN--(Marketwire - September 26, 2007) - With this appointment the San José group is demonstrating its clear commitment to the real estate sector and independent real estate management

MARIO SANZ, NEW MANAGING DIRECTOR OF PARQUESOL

Madrid, 26 September 2007.-The Parquesol board of directors met yesterday, and after submitting for the vote of the members of the board the favourable report of the appointments, remuneration and good governance committee, it appointed Mr. Mario Sanz Bernal, as the new Managing Director of Parquesol.

The appointment of the new managing director will give the company a boost with its progress prior to the merger process with the San José Group. The chairman of Parquesol, Mr. Jacinto Rey, already announced in June at the shareholders' meeting the birth of a "new, more diversified, larger group, more suited to taking on large projects and equipped to successfully face more difficult times".

Mr. Mario Sanz Bernal is a graduate in advanced industrial engineering, and has had a brilliant career in different positions of responsibility for various companies. He has broad experience in the opening of new offices and markets in the real estate sector, and his last management position was with Sacresa as general manager.

His predecessor Mr. Valeriano García will move on to other responsibilities in the San José Group.

About Parquesol

Parquesol, a listed real estate company, continues to be held 60.06% by the San José Group, 13.37% by Caja Castilla la Mancha and 5.03% by Caja de Burgos, and operates in Spain, Portugal, France and Poland. In the first half of the year it reported revenues of 99.4 million euros, with net profit of 28.3 million euros.

For more information on this press release, contact:

Pilar Fernández. Head of communications

Tel: 91-799-49-90. Fax: 91-799-49-97.

Mail: pilarfernandez@parquesol.es

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