13. CHANGES IN DIRECTORS OR BOARD OF DIRECTORS

At the meeting of the Board of Directors held on 26 February 2002, the non-Director Secretary of the Company, Mr Manuel Martínez de Aguirre stepped down. At the meeting it was agreed to appoint Mr Francisco Javier Garde Garde, with national identity document no. 72.651.061 H as non-Director Secretary for an indefinite period, and that appointment was accepted.

Communicated on 14 May 2002.

14. OTHER SIGNIFICANT EVENTS

The intense institutional campaign that has been taking place recently as part of the National Smoking Prevention and Control Plan, with qualified statements in the media on the planned legislative action related to cigarette vending machines (the main national manufacturer of which is Azkoyen Industrial, S.A, a subsidiary of Azkoyen, S.A.) has not only had a negative effect on the company’s share prices but has also significantly affected orders from its customers, with the corresponding reductions in its sales and profit margins during the past month.

As a result of the situation that this aggressive campaign has placed us in, we will have to update our results forecasts for the current 6-month period and for the 2002 financial year as a whole. For this 6-month period, our estimated results are reduced by 55% from those received in the same period of the previous year, when the company made extraordinary profits to the launch of the euro.

It is too early to assess the impact that these factors that are affecting the estimates for the first 6 months will have on the results for the financial year.

Communicated 25 June 2002