1. March 2001 Year 2000 RESULTS LEADING MULTIMEDIA GROUP IN SPANISH LANGUAGE NEWS, EDUCATION, CULTURE AND ENTERTAINMENT WORLDWIDE GRUPO PRISA

2. SUMMARY Main Figures: Year 2000 Results Evolution per Business Unit Group Strategy

3. Evolution per Business Unit Group Strategy Main Figures: Year 2000 Results

4. Revenues EBITDA EBIT EBIT/Sales Net Profit (before Extraordinary Items) (€ mn) Main Figures % chg.19992000 NET PROFIT GROWTH 1999-2000 = -6.4% ADJUSTMENT OF 1999 EXTRAORDINARY ITEMS 195 136 14.2% 67 959 207 147 13.2% 93 1,108 +6.0% +7.4% -7.0% +37.7% +15.5%

5. Newspapers and magazines Books and rights Advertising Other revenues Consolidation adjustments Total sales (€ mn) 235 268 419 155 (118) 959 Revenues % chg. 19992000 255 310 488 199 (143) 1,108 +8.4% +15.8% +16.4% +28.0% +15.5% --

6. SALES = €959 mn 2000 SALES = €1,108 mn 1999 El País Publishing Specialised Press PrintingRadio Others Revenues by media

7. Revenues by geography SALES = €959 mn 2000 SALES = €1,108 mn 1999 Spain Abroad Spain

8. Revenues by source SALES = €959 mn BOOKS AND RIGHTS NEWSPAPERS AND MAGAZINES ADVERTISING OTHER REVENUES 2000 SALES = €1,108 mn BOOKS AND RIGHTS NEWSPAPERS AND MAGAZINES ADVERTISING OTHER REVENUES 1999

9. The Advertising Market: Better Relative Prospects for Spain THE SLOWDOWN OF ADVERTISING GROWTH IS EXPECTED TO BE LOWER IN SPAIN THAN IN EUROPE AND THE UNITED STATES GROWTH OF ADVERTISING (1) 1 Source: Zenith Media. 2000 Europe Spain Grupo Prisa

10. Year 2000 Investments 2000 Affiliates and Subsidiaries213 29 Santillana El Pais 26 Specialised and local press 15 Local radio and TV 24 Music 2 Internet 5 Media advertising sales 6 Printing24 Total Capex 344 (€ mn)

11. International Presence FRANCE SPAIN UNITED KINGDOM PORTUGAL GDP growth forecasts of 4% in year 2001 and 4.6% in year 2002 LATIN AMERICA USA DOMINICAN REPUBLIC PUERTO RICO COSTA RICA VENEZUELA BRAZIL MEXICO GUATEMALA EL SALVADOR PANAMA COLOMBIA ARGENTINA CHILE URUGUAY ECUADOR PERU BOLIVIA PARAGUAY 1 Source: Zenith Media. 2000

12. Group Strategy Evolution per Business Unit Main Figures: Results in the Year 2000

13. Continous Growth (€ mn) EBIT CAGR:+21.5 % (€ mn) SALES CAGR:+15.7 %

14. (€ mn) EBITDA CAGR:+15.8 % NET PROFIT (BEFORE EXTRAORDINARY ITEMS) CAGR:+22.0 % Continous Growth

15. EBIT/Sales Margin Excluding New Business Lines: Internet, Music and Local Press Operating Margin

16. EBIT/Sales Margin Including New Business Lines Operating Margin

17. Financial Structure 204 476 2000 1999 546 342 525 1:1 GEARING 37.4% YEAR (€ mn) -49 NET DEBT SHAREHOLDERS’ EQUITY BORROWING CAPACITY

18. EL PAIS: Leader in Circulation and in Advertising Revenues in Advertising Revenues Leadership in terms of circulation Growth of sales by 16.9% -Growth of advertising revenues by 20.1% 277 61 22.0% (€ mn) 323 74 23.0% Revenues EBITDA EBIT EBIT/Sales 19992000% chg. +16.9% +21.3% +4.5% 6984+21.0%

19. New business in local press Revenues: Advertising revenues: +53.8% Revenues from sales of newspapers: +12.6% SPECIALISED PRESS: Growing Market Share Cinco Días; Circulation: 28,361 copies (+0,3%) Diario AS; Circulation: 158,730 copies (+11%) 176 3.9% 212 -1.2 -0.6% (€ mn) 7 +20.5% -- Revenues EBITDA EBIT EBIT/Sales 19992000% chg. -- 3.39-63.9%

20. RADIO AND LOCAL TV: leading position in Spain and strong growth in Latin America Sales increase: +12.8% New local TV business 164 31 18.9% (€ mn) 185 34 18.4% Revenues EBITDA EBIT EBIT/Sales 19992000% chg. +12.8% +9.7% -0.10% 3540+14.5%

21. PUBLISHING: large growth potential in Latin America Leadership in the educational sector in Spain and in Latin America Spain and Portugal 45% Latin America and USA 55% Education Business Development Growth of sales by 14.7% 272 25 9.2% (€ mn) 312 33 10.6% Revenues EBITDA EBIT EBIT/Sales 19992000% chg. +14.7% +32.0% +15.2% 5359+9.8%

22. SOGECABLE: Towards Profitability Canal Satélite Digital subscriptions: 1,051,563 795 -22.6 -2.8% (€ mn) 891 3.3 0.4% Revenues EBITDA EBIT EBIT/Sales 19992000% chg. +12.1% -- 90119+32.5% Canal Plus subscriptions: 1,758,148

23. Operating result: - €11.7 mn PRISACOM: The Internet Business Revenues amounting to € 5.5 mn 200,198 Inicia customers as of 31 December 2000

24. Joint Venture with Universal Music Group: Muxxic Latina First Operating year GRAN VÍA MUSICAL 24 -0.8 -3.3% (€ mn) Revenues EBITDA EBIT EBIT/Sales 2000 -0.8

25. GDM: Advertising Sales Managed Volume: €278 mn 79 8.4% 86 8 9.3% (€ mn) 7 8.6% 19.4% 10.0% Revenues EBITDA EBIT EBIT/Sales 19992000% chg. 8716.3%

26. To third parties 66% To Grupo Prisa 34% 93 13.0% 90 15 17.0% (€ mn) 12 -3.0% +25.0% +31.0% Revenues EBITDA EBIT EBIT/Sales 19992000% chg. 23219.4% Export 33% Domestic 67% 2000 PRISAPRINT: Printing

27. Main Figures: Results in the Year 2000 Evolution per Business Unit Group Strategy

28. CONSOLIDATECREATEGROW  Leadership in press, radio, education, and pay-TV  Growth of advertising STRATEGY: Consolidate, Grow and Create...  Education, Radio, Music and Internet  Markets: -Latin America (Mexico and Brazil) -U.S.  Development of new contents for new business lines: -Audiovisual Production (Spain and Latin America) -Economic and Financial Information Services - Internet: Vertical Portals. Mobile Services. E-learning

29. STRONG FINANCIAL STRUCTURE STRONG FINANCIAL STRUCTURE INTERNATIONAL PRESENCE INTERNATIONAL PRESENCE HUMAN TEAM: HUMAN TEAM: -CREATIVITY -CREATIVITY -MANAGEMENT SKILLS -MANAGEMENT SKILLS LARGE GROWTH POTENTIAL LARGE GROWTH POTENTIAL...supported by our strengths

30. March 2001 Year 2000 RESULTS LEADING MULTIMEDIA GROUP IN SPANISH LANGUAGE NEWS, EDUCATION, CULTURE AND ENTERTAINMENT WORLDWIDE GRUPO PRISA