The Company will issue 853,500 common shares with a face value of 0.60 euros.
The split will take effect from November 12th to the 26th, 2005.

Azkoyen increased its social capital charged to unrestricted reserves, an operation performed through the issuance of totally unrestricted shares at a proportion of one unrestricted share for every twenty-five old shares.

The issue, approved by the General Shareholders’ Meeting on June 23, 2005, will place in circulation 853,500 new common shares with a face value of 0.60 euros each, charged to the company’s reserves in the amount of 512,000 euros.

The new shares will have the same political rights as those already in circulation, and are eligible to receive any dividends paid by the company since last January 1.

SCH will act as the agent for this operation. With this split, Azkoyen’s corporate capital will have a value of 13,314,600 euros and will be represented by 22,191,000 shares with a face value of 0.60 euros each.

Azkoyen, with its headquarters in Peralta (Navarre), is a Spanish group traded on the Madrid Stock Exchange, and which operates in various industrial areas, among them the manufacture of payment systems and automatic vending machines, as well as product distribution for hotel and restaurant services.  Last August, the Company acquired 100% of Coges, an Italian company which is a leader in payment systems. The stock revaluation exceeded 11% in 2005.