Endesa declares interim dividend.

MADRID, Spain--(BUSINESS WIRE)--December 16, 1997--Endesa (NYSE: ELE), a major electric utility group in Spain, announced today the approval by its Board of Directors of a gross interim dividend of Pta28.00 per share (approx. $0.19 per ADR) against 1997 earnings. One ADR equals one common share of Endesa stock. Record date for ADR holders will be December 31.

This amount represents an increase of 12 percent over the interim dividend declared last year, against 1996 earnings, of Pta 25.00 (approx. $0.17 per ADR).

This gross interim dividend will initially be subject to withholding taxes under applicable laws and regulations. Translations of pesetas (Pta) into dollars ($) will be made at the prevailing rate of exchange on January 2, 1998. ADR holders of record December 31, 1997, will be paid January 28, 1998

CONTACT: Endesa

Fernando Lario, North America Investor Relations,

212/750-7200