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Obrascon Huarte Lain (50ML)

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Thursday 11 October, 2007

Obrascon Huarte Lain

Statement re. Press Comment

Obrascon Huarte Lain, S.A.
11 October 2007

GRUPO VILLAR MIR

                                               Madrid. October the 10th of 2007.

London Stock Exchange


Reference: Notification of Significant Event in relation to the interest held by
the Grupo Villar Mir, S.L. in Obrascon Huarte Lain, S.A.

Dear Sirs,


In view of the news reports in a number of media in relation to the interest
held by the Grupo Villar Mir, S.L. in OHL, we wish to advise you of the
following:


-   On a routine basis, whenever any of the media ask us about this
issue, we have stated that our intention, in general, is that of increasing our
stake in the share capital of OHL, in relation to the market situation at any
given time and without ever specifying dates or amounts.


-   At the present time, the Grupo Villar Mir, S.L. owns 50.724% of OHL's
share capital and in no case is considering increasing its interest beyond 55%.


-   The decisions as may be made on each occasion by Grupo Villar Mir,
S.L. in relation to transactions concerning OHL shares are taken independently
of OHL and outside of any programmes for the buy-back of liquidity contracts as
OHL may have arranged.


-   On a routine basis, all of the transactions carried out by Grupo
Villar Mir, S.L. with OHL shares are notified to the CNMV within the time limits
established in current legislation.


-   On this day and date, the Grupo Villar Mir, S.L. has arranged an
Equity Swap agreement with Banesto for the amount of 75,000,000 euros maturing
on October the 10th of 2008. The initial reference price to the effects and
purposes of the agreement will be the average price of the purchase by Banesto
of the hedge shares, which is estimated to require at least 30 Stock Exchange
business days. As a result, at this time, it was not possible to know the
initial price. The Equity Swap agreement can be settled at the choice of the
Grupo Villar Mir, S.L. by shares or by differences. In view of the level of the
quotation of the OHL share at this time, the said amount, if the settlement of
the swap is made in shares, would represent 2.86% of the share capital.


-   In the course of the duration of the aforementioned Equity Swap
agreement, the Grupo Villar Mir, S.L. does not plan to make any acquisitions of
OHL shares.

Yours faithfully


Tomas Garcia Madrid

Managing Director


                      This information is provided by RNS
            The company news service from the London Stock Exchange