Spain takes a leadership role in Europe with the publication of financial information using the XBRL Standard

Madrid, March 23, 2011.-, Carlos Cano was appointed to be the new President of XBRL

Spain by the General Assembly ().

Carlos Cano is a Telemunications Engineer with an MBA from the Enterprise Institute. He is currently the Director General of Red.es, the Spanish ernment entity for

information technology under the Ministry of Industry, Tourism and Trade.

The General Assembly weled the new president and nfirmed the mitment of all its members in the important task of implementing the XBRL standard. The General Assembly made a public acknowledgement of the great work done by former President Sebastian Muriel during his four years in office, and also wished him great suess in his new professional endeavors.

The new President Carlos Cano expressed his mitment to ntinue in the leadership role of the XBRL initiative in Spain, a front runner untry in the publication of financial information worldwide.

About XBRL Spain

The non-profit Association XBRL Spain is the national representative in XBRL Europe (www.xbrl.eu) and XBRL International (). The working groups promoted by the Association support the adoption of XBRL for official guidelines, regulations and processes in ernment and other anizations. This is an open and participative joint effort of the public, private, academic and association sectors, promoting Spain as a leader in the Information Society for business and financial information. XBRL Spain also ntributes with Inter support to XBRL Europe and to the European project

As part of its participation in European XBRL developments, XBRL Spain acts as the representative and bridge to Latin America, both in European initiatives as well as in XBRL technology.

Spain is at the forefront of publishing financial information in XBRL. More than 700,000 panies filed in XBRL to the National Business Register in 2010, which in turn made this information available to the public. XBRL is also the required format for filing and publishing for the Supervision of Banking, Securities, Public Administration and rporate Social Responsibility.

The XBRL standard is also required in the Municipalities and Local Public Sectors, posed of more than 8,000 entities across Spain. This effort enables the Public Administration to improve transparency and best practices by disclosing its acunts. The fact that financial statements of local authorities are aessible to citizens allows them to be the actual watchdogs of the public management of their municipalities.

The Association XBRL Spain members are:

Regulators/Supervisors:

Bank of Spain, Spanish Business Register, National Securities Exchange mmission (MV), General mptroller of the State Administration (IGAE), National Statistics Institute (INE), Ministry of Enomy and Finance, Board of Auditors of Castilla y León, General mptroller of Castilla-La Mancha, Institute for Acunting and Auditing (ICAC)

Banks/Financial

Popular Bank, BBVA, Santander Group, nfederation of Saving Banks (CECA), Institute of Official Credit (I), Sabadell Bank, Caja Madrid, Stock Exchange (BME).

Public Sector/Associations

Acunting and Business Administration Association (AECA), Institute of Chartered Acuntants (ICJE), Red.es, uncil of Associations of Enomists, National Institute of mmunication Technologies (INTE), uncil of Associations of Industry Engineers

Enterprises/mpanies

Hewlett-Packard (HP), Informa D & B, Informática El rte Inglés (IECISA), Software AG, Business Studies EYEE, Indra Systems, Edi, maat G knowledge, Atos Origin, KPMG Advisory, Sage, Ibermática, Free Software R & D Foundation ( FIDESOL), Axesor, Absis, Information Builders Iberica, GONBLAN nsultants, Reporting Standard.

For more information:

prensa@red.es

Phone: +34 91 2127620

www.red.es